Health is of concern to one and all - our self, to those who care for us and for those whom we care about. We incur enormous costs in maintaining proper health and undergo periodic checkups and take appropriate precaution for well maintenance of the same. We incur sufficient amount of costs by way of insurance to reduce the impact of huge medical bills and transfer of unforeseen expenditure.

Understanding the financial health of the enterprise in which we have invested substantially, either in debt instruments or through equity, is also a concern for us and there is no such mechanism which can assure us the financial health of the enterprise, available at this moment. The only document that is made available to us is an audit report which does not / cannot speak about the health of the enterprise. Audit report is a postmortem report of a living enterprise as to how the enterprise lived all along and whether the management expects the enterprise to live for another one year (a period very much foreseeable). It may touch upon few areas of proprietary interest but does not elaborate / clarify all the doubts we have.

It does not reveal the organisational strengths / weaknesses, conduct of management, accountability for the actions taken by executives etc., etc,. Looking at this situation, we (an actuary and a chartered accountant) have evolved the concept "Health Investigation Bureau". The tool designed by us is named HIBPLUS. We collect different statistical data, evaluate the current overall position of the enterprise vis-à-vis competition in the local markets, global markets, direction of the industry / economy and so on. We comment on the conduct of operations, actions taken by management & senior executives vis-à-vis the need and necessity and utility etc.

The investigation under HIBPLUS will be a comprehensive one and encompasses internal audit, operations audit, management audit, behavioural audit, revenue assurance audit, risk audit and finally scanning the organisation in depth to the core. The tool helps us in evaluating the capabilities of enterprise at micro level and projecting the same for a future period, say next 5-10 years. This bureau consists of professionals belonging to different disciplines who will provide a comprehensive report to the enterprise or the appointed agency.

Report on utilisation of funds, conduct of the management, reasonability of investments / expenditure in different assets, unearthing of mal-intentions / mal-practices followed in the enterprise, by management and / or staff, evaluation of the projections - projected vis-à-vis market conditions & capability of the enterprise, ethical values in the enterprise, evaluation of internal controls and professionalism in management etc are few capsules we offer in addition to the major service HIBPLUS

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