The first quarter of every year is always a very hectic one with the annual conference of the IIA India as well as those of different chapters lined up one after another. The annual conference of the IIA India, held at Chennai was a grand success with over 350 delegates attending it. Kudos to the organizers for successfully organizing such an event on such a large scale. The annual conference of the Bombay Chapter was just round the corner when the conference at Chennai was being held. Incidentally, this too was a grand success with over 150 delegates attending it.
Hindustan Unilever (HUL) is one of the most successful FMCG Companies over last several decades in India. The company is among the pioneers in this field, and is known for its innovating practices across the world. The Internal audit practice at HUL is also one of the best in the country and recently, it was recognised at the IIA Excellence Awards at the IIA Bombay Chapter Annual Conference 2017, Mumbai. Mr. Hariharan Venkataraman, the Chief Internal Auditor, of HUL shares few insights with us.
Sharing multiplies the effects of the good practices
Ambuja Cements Ltd, a part of the global conglomerate LafargeHolcim, is one of the leading cement companies in India and is known for its hassle-free, home-building solutions. Internal Audit department in the Ambuja Cements Ltd was established in the year 1986 (even before the first truck rolled out of the plant) by the foresighted Principal Founder-Promoter of the Company. This function has firmly established its place at the table, witnessing multitude of internal / external changes, growing in this journey and graduating from a legacy setup to adapting world-class multinational internal audit practices.
One of the evenings in the last week was really a stimulating one for me. I was invited by the Country’s one of Top 10 Forbes Ranked Business Schools to speak on pure-play Risk and Internal Financial Controls Over Financial Reporting. It was really a refreshing break for me personally to having got the opportunity of interacting with some of the finest minds of the country.
A typical scenario we see in movies is of hackers sitting behind keyboards and trying to hack into systems using hack commands. In real life, hacks are not just about command lines anymore. Attacks are more evolved these days, with hackers automating the process of compromising systems. Attackers are leveraging heavily on malicious software known as malware to automate their cyber criminal activities right from cyber espionage to data theft. These malware are like robotic assistants that serve the hacker by spreading across multiple systems at lightening speeds giving the hacker the gift of time, which the hackers wouldn’t have, had they tried to hack every system individually.