Revenue Assurance

Revenue assurance as a function is dominant in telecommunication industries. However the lessons learnt can be applied in any industry. What is revenue assurance? Revenue assurance is The activity is the use of data quality and process improvement methods that improve profits, revenues and cash flows without influencing demand. – Wikipedia How Internal audit can help an organization […]

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Right to Audit – Clause

As part of Risk Management, organisation are becoming more forceful to have the Right of Audit Clause incorporated into their agreements with Customers, vendors, partners. Why it is important for organization to have the clause incorporated? A. Organization wants vendor to ensure that: No harm is being done to environment while providing goods and services […]

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Fraud in Loyalty program

Loyalty programs are the in thing and almost every organised retailer and large number of service providers runs the program. The intention behind running this program is to provide reasons (being discount, future benefits, exclusivity, part of a fraternity, community, etc) to customer to shop again and again. Besides the usual operational uncertainty regarding .. […]

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Where is Risk in Audit Committee Agenda?

“Audit Committee Members don’t understand the risk. Promoters feel that Audit Committee are too much into finance. The Independent directors forming audit committee are retired person from government or retired partners from professional firms. They think only about finance and missing the bus for emerging risks. They are not geared up for thinking in terms […]

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What is Risk Appetite?

What is risk appetite? What does it mean? This question has set the ball rolling in an informal group of risk professionals. Everyone has a view on the same. Some views were borrowed from financial industry, some view were created/ adapted for non-financial industries. One of the reason of confusion is analogy of appetite with […]

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