Scene 1 (0s)
Internal Financial Controls over Financial Reporting (IFCoFR) for Assam Power Distribution Company Limited (APDCL).
Scene 2 (9s)
Introduction to Internal Financial Controls. 01. Reporting Requirements on Internal Financial Controls.
Scene 3 (23s)
01. Introduction to Internal Financial Controls.
Scene 4 (30s)
Legal Mandates for Reporting. Directors' Responsibility under the Companies Act.
Scene 5 (1m 22s)
Objectives of an Internal Control Framework. The financial reporting process forms the backbone of an organization's transparency and accountability. An internal control framework is designed to ensure that all financial data is accurate and reliable. Regular reconciliations, meticulous record-keeping, and robust checks at every financial reporting phase are crucial components. Internal financial controls promote systematic documentation and verification of transactions, which aids in detecting anomalies before conclusions are drawn about a company’s financial health..
Scene 6 (2m 13s)
IFCoFR Focus Areas aligned with AERC. Revenue Recognition & Metering Controls.
Scene 7 (3m 5s)
02. IFCoFR in Power Distribution Companies.
Scene 8 (3m 13s)
Challenges in Implementation of IFCoFR in Discoms.
Scene 9 (4m 5s)
Challenges in Implementation of IFCoFR in Discoms.
Scene 10 (5m 5s)
Operational Focus Areas for APDCL. 01. Strong internal controls are designed to protect company revenue by detecting and preventing losses from inaccuracies in meter readings and billing processes. Accurate records and efficient collection systems are critical to maintain a reliable revenue stream. Leverage on the automated metering systems (ARMS) which significantly enhances the accuracy of billing and collections, further reducing the risk of revenue leakage..
Scene 11 (5m 56s)
03. Methodology and Work Plan for APDCL.
Scene 12 (6m 3s)
Understanding the Organization and Risk Assessment.
Scene 13 (6m 32s)
Establish Internal Control Framework. A Risk Control Matrix (RCM) is a tool that links potential business risks to the internal controls designed to mitigate them. It helps assess control effectiveness and ensures accountability..
Scene 14 (7m 7s)
01. 02. Testing and Evaluation of Controls. Walkthroughs are critical in examining the effectiveness of internal controls. By tracing a sample transaction from initiation to reporting, organizations can assess whether controls are adequately designed and implemented. This testing can identify gaps in procedures, providing a clear path for rectification and enhancement..
Scene 15 (7m 34s)
Ongoing Monitoring and Compliance. Continuous monitoring of controls ensures sustained compliance and efficacy. Organizations can establish feedback mechanisms that allow for real-time adjustments in their control measures. This dynamic approach helps in fostering a culture of accountability and adaptability within the organization..
Scene 16 (8m 2s)
Example of Controls in a Process. preventive Internal Controls etective Automatea Manual Automated Manual.
Scene 17 (9m 8s)
04. Our Expertise at Sanjay Hazarika & Co..
Scene 18 (9m 16s)
Professional Experience and Service Tradition. Long-standing Service in Auditing and Advisory.
Scene 19 (9m 59s)
Thank You. SIN VINn000V •OO VYIUVZVH AVCNVS.