RBI SAR Audit for a Big Conglomerate

Challenges

Ensuring readiness for the Statutory Audit Report (SAR) as mandated by the Reserve Bank of India (RBI).
Identifying gaps in compliance with RBI’s cybersecurity and IT risk management guidelines.
Coordinating multiple business units to present a unified compliance posture.
Addressing potential regulatory findings related to IT governance and data security.

Conducted a thorough pre-audit assessment to map the conglomerate’s current IT practices against RBI SAR requirements.
Identified and mitigated key compliance gaps, including those in data protection, IT governance, and risk management.
Established a centralized reporting mechanism to streamline documentation and responses for the SAR audit.
Deployed advanced tools to automate compliance monitoring and evidence collection.
Provided training to key stakeholders across all business units to ensure consistent understanding of audit requirements.

Successfully completed the RBI SAR audit with zero major findings.
Improved IT risk management and governance processes across the organization.
Strengthened communication and collaboration among business units, resulting in more efficient compliance efforts.
Enhanced trust and reputation with regulators and stakeholders, positioning the conglomerate as a leader in compliance.