Internal Control, Compliance and Governance

Resource Management Services (REMS) is a client service oriented consultancy offering time-tested solutions to your firm’s Internal Control, Compliances and Governance systems concerns.

Why Internal Audit Services

Internal auditing means an appraisal activity established within an entity as a service to the entity. Its functions include, amongst other things, examining, evaluating, and monitoring the adequacy and effectiveness of the accounting and internal control systems. Basically, internal auditing is a control that is concerned with the examination and appraisal of other controls-in seeing that the assets of a business are properly protected and accounted for, that current transactions are promptly and completely recorded, that faulty, inefficient or fraudulent operations are revealed, and that the business is adequately protected against waste, fraud and loss. The purpose of this control is to assure better operation and maximum profit.

Our offer for Internal Auditing Services

Review of the accounting and internal control systems.
Examination of financial and operating information. This may include review of the means used to identify measure, classify and report such information and specific inquiry into individual items including detailed testing of transactions, balances and procedures.
Review of the economy, efficiency and effectiveness of operations including non-financial controls of an entity.
To verify the accuracy and authenticity of the financial accounting and statistical records presented to the management.
To ascertained that the standard accounting practices, as have been decided to be followed by the organization, are being adhered to.
To establish that there is a proper authority for every acquisition, retirement and disposal of assets.
To confirm that liabilities have been incurred only for the legitimate activities of the organization.
To Review of compliance with laws, regulations and other external requirements and with management policies and directives and other internal requirements.
To analyse and improve the system of internal check;
To facilitate the prevention and detection of frauds.
To make special investigations for management.
To provide a channel whereby new ideas can be brought to the attention of management

Compliance Assurance

In general, compliance means conformance to a set of rules and or requirements, such as a specification, policy, standard or law. On a functional level compliance could be termed as internal (set by organization or management) and external (imposed by statutory or legislative, international bodies) Assuring compliance is integral for efficient management of operational risk exposures i.e. legal penalties, financial forfeiture, reputational damage, revocation of license to operate etc. Hence, being in compliance is fundamental for organizations/ businesses around the world irrespective of their size, spread or model.
Key components of an effective compliance assurance program includes –

Identification of risks, requirements that an organization faces, requires toconform (identification)
Design and implementation of controls or mechanisms to protect an organization from those risks (prevention)
Monitoring, auditing and reporting on the effectiveness of those controls on a regular basis (monitoring and detection)
Resolving or rectification of compliance issues/ difficulties as they occur (resolution)

Based on the complexity and risk profile organizations may choose to administer and oversee compliance through standalone separate management systems (resource intensives and independent) or could integrate with corporate governance (integrated and lean). Due to the increasing number of regulations, stringent enforcements and need for operational transparency, organizations are increasingly adopting the use of consolidated and harmonized sets of compliance controls. This approach is used to ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources.

Brief of compliance services can be offered in export oriented industries:

Social / Technical Compliance Development:

Conduct baseline survey
Identify the strength & weakness of an organization
Reporting the improvement areas
Help implementing the CAP (Corrective Action Plan)
Conduct training on capacity development of the management level staff
Prepare the work force to face 3^rd party/ buyers auditors interview
Assist top management in handling grievances of the workers
Implement Buyers CoC / Quality guidelines through the factory etc.

Supply Chain Security Management:
- Conduct baseline survey
- Identify the risk areas of organization
- Reporting the improvement areas
- Help implementing the CAP (Corrective Action Plan)
- Prepare the factory for 3^rd party verification audit
Certain Social Standards implepentation ( SA-8000, BSCI, WRAP, SMETA, FLA/FWF etc.):

Conduct baseline survey based on specific standards
Identify the strength & weakness of an organization
Reporting the improvement areas
Help implementing the Social standards
Prepare the factory for 3^rd party certification audit

A.K.M. JASHIM UDDIN, FCMA

Deputy Comptroller and Auditor General (Senior) (Retried)
Former DG, Foreign Aided Project, Commercial Audit, Land and Revenue – Audit Directorate

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Md Nazimuddin

Deputy Managing Director (Retired),
Janata Bank Ltd

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SK. Md. Khurshed Alam

42 Years above experiences in Quality, Health Safety and Environment Consultant, Auditor & Trainer

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Dr. A F M Nazmus Sadat

Dean, Faculty of Science & Chairman, Dept. of Pharmacy
Sheikh Hasina University of Science and Technology
Research Experience:
1. Post-Doctoral Fellow, Bangladesh Research Institute for Chemical Measurements (BRICM)
2. Ph.D on Environmental Science, Expertise on Fluorocytometry, HPLC, Mass Spectroscopy, GLC, LC-MS/MS etc.

Research area:
Cancer, Diabetes, primary immunodeficiency diseases and relevant genetic disorders etc.

Management Consultant:
ISO, QMS, GMP, EHS, Clean Room, Validation, Calibration, TQM, 5S, Kaizen, Industrial Psychology, etc. QHSE Solution BD.

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Md. Abul Quasem

30 years of experience in Garments Industry and Europe ,USA and Australia based Apparel Retailer and Branded companies, 3rd party audit company, NGO and worked in a wide range of fields including Compliance , Ethical Trade, Finance, HR and Office Administration etc.

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