Control Self Assessment Presentation

A presentation on Control Self-Assessment was held on Thursday 1st February 2007 at Grand Regency Hotel.

During the presentation, Group Deputy Chairman, Group Administration Director, General Managers, Finance Managers of Group Companies, Group Finance, IT, Legal and Internal Audit totaling about 40 members were present.

Group Deputy Chairman inaugurated the event and in his address mentioned that professionalism and group synergy could bring about sustainable growth. He further advocated periodical events such as this.

Mr. S. Rajeswar, Group Internal Auditor facilitated this presentation. The purpose was to understand the concept that provide tools for self assessment of internal control effectiveness with respect to meeting the objectives and for risk identification and assessment related control processes. The presentation gave an overview in the following management areas:

1. Process of setting Company goals and objectives

2. Methodology to identify Business Risk as both threat and opportunity

3. Controls as enablers to contain risk exposure and risk management process

4. Self assessment of Risks, Controls and mechanism to monitor

The presentation was well received with active participation in the deliberations by attendees. In order to take further on CSA, Companies/ Functions were requested to come up with top Three Objectives, Risks and Control areas for 2007. Internal Audit could validate risk management process as part of their audit assignment

---