Auditing is characterised by reliance on a number of principles. These principles help to make the audit an effective and reliable tool in support of management policies and controls, by providing information on which an organisation can act in order to improve its performance.
While the responsibility for identifying and managing risks belongs to management, Consultivo offers its audit and assessment related services to provide assurance that those risks have been properly managed.
What is risk based auditing?
Risk based auditing (RBA) is a methodology that links auditing or assessment process to an organisation’s overall risk management framework. It is primarily focused on the inherent risk involved in the activities or system.
RBA allows an audit to provide assurance to the board that risk is being managed by the management effectively, in relation to the defined risk appetite level.
What we do
AUDIT & ASSURANCE
Our specialised resources have been leading the way to a sustainable business for more than 500 organisations/units since 2009.
Consultivo in Audit & Assurance
In Consultivo, adherence to these principles is a prerequisite for providing audit conclusions that are relevant and sufficient and for enabling auditors, working independently from one another, to reach similar conclusions in similar circumstances.
Our audit process is based on the following principles of the International Auditing standard ISO 19011:
a. Integrity: the foundation of professionalism
b. Fair presentation: the obligation to report truthfully and accurately
c. Due professional care: the application of diligence and judgment in auditing
d. Confidentiality: security of information
e. Independence: the basis for the impartiality of the audit and objectivity of the audit conclusions
f. Evidence-based approach: the rational method for reaching reliable and reproducible audit conclusions in a systematic audit process
Defining the objectives, scope and criteria for an individual audit
Each individual audit in Consultivo is based on documented audit objectives, scope and criteria. These are defined by the person managing the audit programme and be consistent with the overall audit programme objectives.
The audit objectives define what is to be accomplished by the individual audit.
The audit scope includes such factors as physical locations, organisational units, activities and processes to be audited, as well as the time period covered by the audit.
The audit criteria are used as a reference against which conformity is determined and may include applicable policies, procedures, standards, legal requirements, management system requirements, contractual requirements, sector codes of conduct or other planned arrangements.
Risk-based audits and assessments
Consultivo is a leading assurance and audit services provider. Located in India, we have a global network of auditors skilled in a wide range of industries and sustainability standards. We have unparalleled experience in international assurance requirements and rigid industry standards.
Our first, second and third party audits help you develop and implement a qualification and development program to get the most out of your resources and remain competitive.
Through our risk based audits/assessments, we identify opportunities for performance improvements. With these assessments, you can be confident that your system is in compliance with health, safety, quality, environmental, security and social accountability requirements.
Consultivo risk based audits/assessments provide a variety of benefits to your organisation, including:
• Provide an accurate assessment of organisation’s capabilities to meet requirements
• Identify areas where an organisation need to take action to meet requirements
• Analyse ways for organisations to improve sustainability and excellence performances
Competence and evaluation of auditors
Confidence in the audit process and the ability to achieve its objectives depends on the competence of those individuals who are involved in planning and conducting audits, including auditors and audit team leaders.
In Consultivo, competence is evaluated through a process that considers personal behaviour and the ability to apply the knowledge and skills gained through education, work experience, auditor training and audit experience.
The evaluation of auditor competence is planned, implemented and documented in accordance with the audit programme, including its procedures to provide an outcome that is objective, consistent, fair and reliable.