MGC & KNAV
Your safety net for risk management
The global economic and political uncertainty over the past two decades further accentuated by the build-up of corporate failures resulted in a crisis of confidence across the public and private sector.
Simultaneously, ongoing disruption in the marketplace in the competitive and regulatory landscape was presenting its own set of continually evolving strategic, operational, financial and other risks.
This led to increased demands for transparency and accountability across institutions with the tolerance for risk-taking and strategic mistakes surging to possibly an all-time low.
Ironically, the biggest risk that could prevent the attainment of such objectives was the potential division of a consulting firm's focus to aspects other than risk advisory.
Several accounting and consulting firms provided risk advisory services, but the impending need of the hour was to introduce a dedicated firm whose sole focus was to provide risk advisory services across sectors and seamlessly across geographies.
MGC & KNAV Global Risk Advisory LLP ('MGC & KNAV', or 'the Firm') came into existence in September 2015 to satiate such demands and as well as provide management, board level committees and other stakeholders of organizations with reliable, accurate and value-driven assurance on their systems, controls, policies, procedures, and risks.
In the current competitive environment, the stakes are very high. There is a lot for organizations to gain, and a lot to lose as well.
Consequently, organizations need to go above and beyond the normal and implement proactive structures that not only detect risk but also enhance the strategic and operational foundations of the business.
MGC & KNAV helps its clients in identifying, measuring and managing risks (which include strategic, operational, financial, compliance, IT, data security and fraud risks); it enhances the reliability of systems, controls, policies, procedures, and people; and facilitates the institutionalization of effective governance structures.
It is in this context that MGC & KNAV works across the entire spectrum of an organization's operations while embedding performance and risk management at the core of the business, defining and realigning the governance structure and framework to the organization's objectives and achieving desired control and performance improvement objectives.
The difference also lies in the firm's ability to go beyond the traditional standard boundaries to give each of their clients a complete experience that sets benchmarks for their competition to follow.
MGC & KNAV has encouraged its clients to seek an early adoption of forward-looking regulations such as SOC assessments and governance practices such as those that have been laid out in frameworks such as COSO 2017.
Having an enviable and proven track record of identifying and working with its clients to achieve quantifiable savings in their costs as part of internal audits;
Unearthing and substantiating frauds to stop the rat/rats from feeding into its clients' business;
Turning around the financial performance of their clients with financial transformation projects;
Enhancing the productivity of human resources with effective organizational restructuring for its clients;
Re-aligning IT frameworks to enable its clients proactively to address cyber risks;
Restructuring management information flows to develop effective and reliable decision making dashboards; &
Establishing good governance and risk management practices for its clients that have resulted in these clients obtaining external recognitions and awards for such practices.
MGC & KNAV is amongst the earliest adopters of path breaking artificial intelligence tools, which enables them to deliver value to their clients through analytical and big data crunching in an efficient and effective manner.
The Firm's biggest achievements spring from its ability to compete with the largest consulting firms and by edging them out on specific risk advisory mandates in terms of technical expertise.
They have been able to attract and retain the best talent, across levels in the area of risk advisory services.
Its clients today are some of the best-known organizations in their respective domains and the rapid growth of their internal audit mandates (a vertical within risk advisory, which typically has a relatively long conversion cycle) demonstrates the trust that it has been able to inspire in its clients.
MGC & KNAV's clients are a varied mix of small, medium, and large Indian and multinational organizations across domains that include several new age and established organizations.
The Firm has focused on developing a strong value system with a culture of trust, honesty, integrity and transparency within the organization that keeps the team members motivated and collaborated with its vision, mission, goals, values, principles, beliefs and expectations.
Ongoing communication and engagement of its leadership with each member of the team and the provision of unmatched opportunities for their development with no compromise on its pay-scales are important aspects that it takes pride in sustaining.
The current and emerging regulations are further going to propel the requirements for reliable and effective risk advisory services in the future.
The recent regulations in the EU in the context of data protection, followed by the Personal Data Protection Bill, 2018 in India and the ongoing developments in the context of security, confidentiality and privacy of data in the US and across the globe are developments that require organizations to revisit their current systems and practices relating to data protection and management.
In addition, various provisions of the Companies Act in India dealing with control assessments, compliances, fraud prevention & internal audits; and the recent changes in the COSO framework are some specific aspects that will drive the requirements for risk advisory services this year.
The core leadership team of MGC & KNAV has over 100 years of professional experience behind them.
Led by Monish G Chatrath, who is one of the best known names in risk advisory and corporate governance in India, MGC & KNAV's leadership team, comprises Khozema Anajwalla (a visionary, one of the founding partners of KNAV; & a CA & CPA from the US & Canada), Tarun Kher ( has worked for the Big 4, closely with Monish for over 5 years & is regarded as one of the most affable professionals to work with), Kaizad Jangalwala (a leading human capital transformation expert), Shrenik Kataria (who is an established risk advisory professional), Chandan Rajgadhia (who specializes in internal audits & is a seasoned professional with experience in the profession with the big 4 and the industry) Vikas Bansal (a certified ethical hacker, an IT & process excellence expert & one with exceptionally high energy levels) & Aakansha Singh (a talented chartered accountant, lawyer and fraud investigation specialist whose contagious can-do attitude inspires confidence).
According to Monish G Chatrath, the Managing Partner of MGC & KNAV, and an industry veteran with 28 years of experience in international finance – both in the profession (Arthur Andersen, KPMG, Grant Thornton & Mazars) and the industry (CFO of Barista Coffee [nominated for the CFO of the year], EXL and Schlumberger) "Our sense of accomplishment, is whenever a client states that because of us, he has been able to get sound sleep."
In order to get ahead in today's fast-paced world in the risk advisory domain, an entrepreneur must be creative and innovative at the same time and this is an aspect that will continue to make MGC & KNAV stand out from the crowd.
To have a futuristic vision is one part, but to know how to work at the grass root level with each member of one's team to convert ideas into real-world success stories is of utmost importance.
Any entrepreneur in the risk advisory domain must take it upon himself or herself to personally make the difference between success and failure for its clients and all stakeholders.
A vision is only successful when it resonates with and appeals to the aspirations of all stakeholders, which includes the organizations clients and team members.
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