<p>There is a dire need that the deadweight losses and risks are addressed to extremely protect the organizations, individuals and country as a whole against financial frauds and economic crimes. The type and face of financial and corporate scams have evolved with the shifting velocity of development around the world. Despite the huge spends of budget on forensic, audit, judiciary, and security organisations to frauds, the victims have always been scrambled.To grapple with emerging threats, uncertainties, risks, and volatility due to frauds and also, to build the true business resilience, ASSOCHAM believes that improvisation of internal and external fraud vigilance and intelligence system, a comprehensive and timely review and revision of the laws, regulations and enforcement are the pressing need of corporates and economy.</p>
  <p>The key to ensuring that organisations survive and flourish in a highly complex and cutting-edge competitive environment is to conduct critical, unbiased, and independent examinations of business systems and processes. Internal audit and risk managementas a major function of professionals in organisations, give senior leaders and governing bodies of entities with information that allows them to make informed decisions.&nbsp;</p>
  <p>The National Council on&nbsp;Internal Audit and Risk Management is a focused wing that functions toenable and empower the corporate stakeholders to combat the challenges of rising fraud risk challenges posed by various internal and external forces that impact the resources and creditability of organisation.&nbsp; Also, the council closely works with various sectoral regulators and provide policy measures to control the risks of fraud in the country.&nbsp; The council conducts the capacity building program for senior management towards enabling equipping and empowering them to manage better therisks in their organizations, control the environment, improve operational effectiveness and governance, and stay compliant with applicable standards, laws, and regulations. The council also submit its suggestions, and recommendations in the process of standard setting to the government and regulators on various related policy matters based on global regulatory changes on timely basis.</p>