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Corporate Governance, Risk Management and Internal Audit

Now more than ever, risk management has undoubtedly become critically important as businesses are challenged to remain competitive while grappling with uncertain operational and financial conditions. Managing growth expectations along with multi-faceted business risks and compliance requirements is a delicate balancing act. With a team of diverse and highly-qualified specialists, NTS Malaysia’s Governance, Risk Management and Internal Audit division delivers a robust and sustainable framework to suit your unique business needs.

 

We provide the following services:

Enterprise Risk Management
Enterprise risk management (ERM) includes the methods and processes used by organisations to manage risks and seize opportunities related to the achievement of their objectives. We are able to assist management to table a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organisation’s objectives (risks and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress. By identifying and addressing the identified risks and opportunities, your organisation is able to protect and create value for your stakeholders, including owners, employees, customers, regulators, and society overall.

Control Self Assessment
Control Self Assessment (CSA) is a method used to allow staff and business units in the organisation (that is, those directly involved in business units, functions or processes) to participate in assessing the organisation’s risk management and control processes.

Key Contacts

We will facilitate CSA programs for gathering relevant information about risks and controls; for focusing audit work on high risk, unusual areas; and to forge greater collaboration with operating managers and work teams. Managers can utilise CSA programs to clarify business objectives and to identify and deal with the risks in achieving those objectives.

 

Internal Audit Co-sourcing
The traditional internal audit approach is very much compliance-based and often resulted in limited scope being covered and/or failure to address key risks. Our risk-based integrated approach helps to define key risks (“those that really matters”) from the start, protect important business functions/drivers and ultimately achieve organisational objectives. By flagging out all significant risks early and addressing them in a timely manner, we help our clients achieve their business objectives.

We could work independently (outsourcing) or in concert with your existing internal audit department (co-sourcing) to supplement your organisation’s requirements.

A primary value of internal audit is to help identify innovative ideas and recommend the best practices to give businesses the competitive edge while at the same time continue to meet both the traditional and evolving expectations of the audit committee.

 

Pre-Listing Internal Control Reviews
Often, private companies seeking to list on the stock exchange would be required to demonstrate that there is a robust system of internal controls in the daily business operations. These include internal controls to address operational, financial and compliance risks. Being a frequent partner of listing projects, we have an experienced team who understand the stringent requirements to carry out such reviews.

 

Software Licensing Compliance Reviews
Software License Compliance Reviews are increasing in frequency within these few years. Recommendations for improvement are needed to fulfil the demand to protect intellectual property rights to establishing or actively enhancing software license compliance programs. At NTS Malaysia, our team of experts assist our clients in analysis and identifying potential gaps in licensing compliance to reduce impact on their operations.

Corporate Governance, Risk Management and Internal Audit

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Mr Chin Chee Choon
Director Assurance
and Advisory

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Mr Gary Ng
Director, Internal Audit
& Risk Management