Our Services
Corporate Governance, Internal Control Assurance & Advisory Services
Initial Public Offering (IPO) / Pre-IPO Internal Control Review
An initial public offering (IPO) is one of the most exciting, rewarding and yet, one of the most challenging processes for companies. Part of the listing preparations would entail examination of your organisation’s
financial reporting and corporate governance practices.
We help assess your current governance and internal control system to identify strengths as well as gaps where improvements are required.
We provide the necessary advisory you need to align your company with accordance to the requirements of a listed company.
Macro review of internal controls
A high-level objective review of the internal controls of your organisation.
We identify gaps and weaknesses, recommend solutions and counter measures. We assist in the development your internal controls manual.
Corporate Governance Review
We provide an independent, objective assessment of the appropriateness of your company’s governance structure and the operating effectiveness of specific governance activities.
Our Corporate Governance Review is conducted based on the Bursa Malaysia Listing requirements and the Malaysian Code on Corporate Governance. Reference is also drawn from world-wide Corporate Governance codes, studies and surveys to highlight and recommend possible better practices to adopt.
Development of management assurance process
At CGRM, we firmly believe that the governance and control agenda should be driven from a ‘top down’ approach. This means that the tone and control environment of the organisation is determined by senior level management and ‘cascaded’ down to the individual departmental heads and line managers, thereby forming ‘the embedded first line of control’. We will help design the self assessment control assurance infrastructure of which the Letter of Assurance is one of the key products.
Management of regulatory requirements related to Corporate Governance
Managing regulatory requirements involves establishing a robust system within a company to monitor, comply with and actively address all applicable laws and regulations governing board composition, financial reporting, shareholder rights, internal controls, and ethical conduct, ensuring transparency and accountability across the organisation. We do not merely provide timely updates on new regulatory requirements as they occur. We give a summary of the requirements, the applications, recommendations and assistance to fulfil them.
Statements on Corporate Governance, Risk Management and Internal Control Advisory
We provide advisory support to assist in drafting Corporate Governance, Risk Management and Internal Control Statements that adequately addresses all areas of concern and disclosure requirements in a concise and precise format.
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Internal Audit & Assurance Solutions
Provision of Internal Audit co-sourcing / out-sourcing
A co-sourcing / out-sourcing arrangement will offer the flexibility and diversity of a world class internal audit department without the added burden of hefty fixed costs and overheads associated with hiring in-house experts.
Establishment of better practices
Adoption of better process control practices and governance procedures is vital in an environment where competitiveness and sound governance of corporate affairs are a precursor to access strategic business associations and lucrative investments.
Provision of peer review and benchmarking
We offer advisory services to benchmark your orgnisation’s internal controls against other similar industry practices and international standards or benchmarks.
Comprehensive Enterprise Risk Assessment (CERA) Services
We facilitate a structured process called CERA to enable our clients to understand and identify the risks that surrounds their enterprise as well as to ensure that the management of risks are explicit and integral to their business plan.
Our services on CERA include:-
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Process Facilitation Services
Establishment of framework for Risk Management Committee
A positive shift of mindset from a company’s management will see risks are to be managed and not avoided. This in turn creates transparency for the shareholders.
Establishing a Risk Management Committee (RMC) is a key step to reflect the organisation’s awareness and acceptance of business risks.
The RMC, with clear terms of reference, will function as the vehicle to drive the risk awareness agenda in the organisation and provide risk assurance to the Board of Directors and Audit Committee.
Facilitation of risk evaluation, risk profiling, monitoring and reporting
Assist in training of line managers to be effective risk facilitators.
- Facilitating workshops to identify your business risks and their impact on the organisation, to prioritise and consider possible courses of action. Risk concepts & methodologies will also be introduced.
- Developing your organisation’s risk profile detailing the risk, possible financial impact, likelihood and severity of the risks. Risk registers and maps (cumulative to compare yearly risk movements) will be produced.
- Formulating a reporting framework which includes the following:-
- Designing and advising you on the optimal reporting risk reporting structure suited to your organisational needs; and
- Consulting and designing appropriate Risk Management Committee reports.
Enterprise Risk Assessment Process Review
- Independent review of the enterprise risk assessment process.
- Benchmarking against good / better practices to identify process improvement opportunities.
- Designing an implementation roadmap with the client.
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Business Process Improvement (3 Es)
Business Process Improvement (BPI) is a systematic methodology developed to help an organisation make significant advances and improvements in accomplishing a specific business task. It provides a system that will aid an organisation in streamlining its operations and ensuring quality output and results.
The 3 main objectives of BPI are:-
- Making processes effective by producing the desired results
- Making processes efficient by minimising the resources used.
- Making processes adaptable by being able to adapt to changing customer and business needs.
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Systems & Methods Documentation
Operational, financial, and administrative policies and procedures provide managers and employees with a systematic approach to implementation of internal controls and in execution of work routines.
At CGRM, we have the expertise to develop well thought-out policies and procedures manual over a wide range of functional business areas to provide everyone in your organisation with the ability and flexibility to make the right decisions in their job responsibilities.
We will tailor the policies and procedures manual to help organisations in effectively:
- Conveying management’s philosophy;
- Improving communications;
- Reducing training time;
- Improving productivity;
- Strengthening operations;
- Empowering employees; and
- Accomplishing goals which ultimately translates to achieving the organisation’s overall objectives.
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Cost Control / Containment Services
Significant opportunities exist to reduce expenses and improve strategic sourcing for businesses.
CGRM has a team of highly experienced professionals to deliver proven cost reduction methodology to organisations.
Our methodology provides organisations with an objective analysis and reduction in expenses, and a comprehensive review of the supplier base and supply chain across all expense areas. In order to identify the bottom line effect, we will develop a detailed analysis and proposal that will outline the net effect of our recommendations.
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Organisation Resource Structure
We are experienced in providing advisory and consulting services to assist you in designing organisation structures that will support the delivery of organisational goals and objectives that best suits your needs.
Defining job and reporting responsibilities of key management roles are an essential next step to supplement a well-drawn organisation structure. Job descriptions are essential for every role within an organisation as these not only stipulate the duties, functions and requirements of a position but also used for recruitment, selection and staff development, compensation surveys and benchmarking purposes.
Underlining the whole organisation and governance structure is a fundamental control mechanism known as delegation of authority limits or limits of authority matrix. We can assist and advise in designing a matrix to describe appropriate rights and responsibilities so individuals within the organisation are capable to independently make the right timely decisions.
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Quality Assurance Review on Internal Audit Functions
A Quality Assurance and Improvement Programme is necessary to ensure consistency in internal audits. In-progress and regular internal/external quality assessments, internal monitoring assurance and audit activities is key in complying with the International Professional Practices Framework for Internal Audit and the Code of Ethics.
All internal audit functions regardless of industry, sector or size of staff, outsourced or co-sourced, should undergo both internal and external QAs. Quality assessments enhance value to evaluate compliance with the standards, internal audit, audit committee charters, organisation’s risk & control assessment, and the use of leading practices.
We offer advisory services to benchmark your organisation’s internal audit function against other world-class audit organisations and international Internal Auditing standards.