PML Advisory partners Indian firm to boost anti-corruption war

AN indigenous auditing and financial risk management company, PML Advisory, has signed a business partnership agreement with an Indian-based financial solution providers, ETrends Technologies on the implementation of the latter’s range of Internal Audit, Risk Management and Compliance solutions in Nigeria.

   At a press conference heralding the signing of the agreement in Lagos, the companies assured that the synergy was primarily instituted to further strengthen all the existing anti-corruption frameworks and best practices in the nation’s private sector.

  The Chief Executive Officer of PML Advisory Limited, Abiola Fajimi, said the public presentation of the agreement signing between the two financial risk management companies will certainly help Nigeria’s corporations reduce fundamental challenges of financial loses, unintentional defaults against auditing regulatory procedures and promotes effective financial risk management units of its corporations. 

   According to him, the partnership agreement covers deployment of: LASER Audit Reporting System; LASER Legal Compliance System; and LASER Risk Management System, all with the intention of assisting accountants, auditors and financial risk management experts to achieve better result in their jobs.

  He explained that LASER Audit Reporting is a solution system that puts the Internal Auditor in control of the complete audit cycle from planning to completion. The auditor can plan the annual audits, schedule it, view the audit programmes, create work papers and findings and track on-going observations, using the application solution. He described it as a purely a paperless audit solution.

 Director of Etrends Technologies Limited, Prateek Patel, said ETrend Technologies Limited is bringing on board, a reputation of excellence spanning about a decade, with blue-chip conglomerates such as TATA Group and Kloskar, among others on their clients’ list.

    According to him, “Etrends India specialises in developing a web based internal audit management, risk management, and compliance solutions, which cater for internal audit, risk management, and compliance needs of organisations. Founded in 2003, the company is a market leader in India on governance, risk and compliance solutions. The company operates under the brand name “LASER.”

  Explaining the fundamental importance of the business agreement, Ibrahim noted that the solution is to provide formidable framework against institutionalised corruptions in the private sector.

  “Let me allay your fears that this solution is not in anyway susceptible to the overwhelming institutionalised corruption in the country. Instead, this is one of the recommendable solutions to stamp the menace out of the Nigerian corporations. It doesn’t only help to detect fraud, through professional auditing, but promotes compliances with regulatory laws and corporate governance.” 

“The incorruptibility of the project stems from the professional backgrounds of the drivers. We are products of the Big Four in Auditing profession: KPMG, Delloitte, PWC and S & Young. These are the incorruptible Big Four in the sector, and we below to them by professional training, ethics and values,” he added.