Mr. Lahiri also spoke about the importance of internal audits and internal control for businesses across industries. He gave examples from his work experience where his clients who were big players in their fields had to suffer tremendous losses due to lack of proper internal control mechanisms. After which Mr. Lahiri shifted to talking about Enterprise Risk Management and the steps involved in it. From RACM matrix to Criteria matrix all the important details of risk assessment and prevention were discussed in the lecture.
The session was really interactive and students asked a lot of questions. Due to which several other relevant topics were also discussed. Students got a chance to understand things like the difference in Business and Management consulting, the threat that AI and other technological advancements pose to the field of consulting, how seriously do old established companies take benchmarking compared to new agile startups and skills required to excel in the field of consulting. We got to hear about the consulting world from the horse’s mouth and we are sure this will help all the students who are aspiring to work in the consulting industry.
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