Data Privacy | Pierag

Capabilities

Data Privacy Offerings

Readiness Assessment

Evaluate your current privacy practices, identify any gaps and enhance your data privacy posture.

Comprehensive Data Flows

Map how personal data is collected, processed, stored, and shared across systems and processes in your environment through detailed Data Flow Diagrams.

Data Privacy Trainings

Our engaging and customized training sessions help team members address privacy concerns in a practical while contributing to the building of a privacy aware culture.

Privacy Impact Assessment

Conduct a systematic evaluation to identify privacy risks associated with new projects, systems, or processes that collect, use, or share personal data.

Data Processing Agreements and Other Measures

Guidance and review of Data Processing Agreements and contracts to define required security and governance controls.

Data Subject Rights (DSR) requests

Define processes to respond effectively to access, rectification, deletion, and portability requests from Data Subjects.

Our Insights

Real Problems, Real Thinking

Audit Trail Ensuring Financial Integrity and Accountability

India’s IT landscape has experienced a dramatic shift over recent decades, moving away from traditional, paper-dependent bookkeeping methods to a vibrant, tech-powered ecosystem. Today, organizations depend on — ranging from enterprise resource planning (ERP) tools to cloud platforms — not only to boost efficiency but also to safeguard compliance, security, and data accuracy of financial reporting. This change entails additional responsibility since keeping thorough records helps to prove financial integrity and responsibility. An audit trail acts as the "black box" of an organization—a kind of financial journal that captures every activity. It records who did what, when, and how within the financial system. This creates a straightforward way to verify the accuracy and accountability of financial records. Think of it as holding a backstage pass that lets you peek behind the curtain—offering complete visibility into every transaction for transparency, tracking access to sensitive data to bolster security, and capturing system changes to ensure compliance. With their growing importance, audit trails are now a legal must-have in India, following regulatory mandates that came into effect on April 1, 2023. The push for audit trail comes straight from the Companies (Accounts) Rules, 2014, where Rule 3(1) says any organization using accounting software—whether it's ERP systems or even web portals—must have a permanent audit trail that can't be turned off. It’s got to automatically track every change, stamp it with a timestamp, and keep those records on hand for audits. Meanwhile, auditors, under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014, must double-check that this feature was running all year, and wasn't tampered with. This rule isn't just for large organizations—it applies to every Indian organization. Whether it's nonprofits under Section 8 or foreign entities, it covers everything from standalone to consolidated financial statements.

2-3 Min Read

Emerging Risks and Trends: What Lies Ahead in the Near Future

In a dynamic and fast-paced global environment, organizations are navigating ever-increasing challenges driven by technological advancements, environmental demands, and changing societal expectations. These changes blur traditional risk boundaries and create a complex, interconnected risk landscape. As a result, it has become imperative for internal audit functions and organizations as a whole to develop the ability to identify, understand, and mitigate risks, enabling them to achieve resilient and sustainable growth. These emerging threats also provide internal audit teams with an opportunity to demonstrate agility, prudence, and strategic insights, thereby reinforcing their role in enhancing organizational resilience and long-term value creation. Business continuity risks are probable disruptions that hinder an organization's ability to operate effectively and deliver essential services. The disruptions may arise from multiple sources such as natural calamities, technological disruption, cybersecurity incidents, geopolitical conflicts, and supply chain disruptions. The COVID-19 pandemic or Suez Canal blockage were recent and powerful examples of how such risks can severely impact global operations. Continuity risks are highly interconnected and interdependent. A minor disruption in one part of the chain can trigger a domino effect, leading to operational and financial consequences globally. Thus, strengthening operational resilience is essential for maintaining stakeholder trust and sustaining long-term value delivery. Human capital risk is the vulnerability organizations encounter in attracting, retaining, and developing their talent. Employees are the most valuable assets and vital pillars of any organization. Failure to manage talent effectively can significantly impact business continuity, innovation, and competitive edge.

2-5 Min Read

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Driving Impact

Our Technology Risk Advisory
Leadership Team

Gaurav Khandelwal

Partner & Leader - Risk Advisory

Dipesh Khushalani

Director - Technology Risk Advisory

Gaurav Khandelwal

Partner & Leader - Risk Advisory

Gaurav is a Risk Advisory Practice Leader at Pierag Consulting, one of the fastest-growing firms in the advisory space. A Chartered Accountant by profession, he is a seasoned Governance, Risk, and Compliance professional with over 20 years of experience in consulting and industry. An ex-Big 4 leader, he is renowned for advising clients on managing risks and assisting large-scale organizations in implementing robust governance frameworks across sectors such as real estate, infrastructure, consumer products, beverages, hospitality, and healthcare. In his industry role, Gaurav was instrumental in driving the culture and implementing frameworks across governance, risk, and compliance. Under his leadership, Tata Realty won prestigious accolades, including the Risk and Compliance Awards at ICICI Lombard and the CNBC TV18 India Risk Management Awards. Earlier, in his leadership roles at Big 4, he led multiple risk-based internal audit engagements for diverse clients, including companies engaged in the operations and maintenance of roads, steel manufacturing across multiple locations, leading players in the Indian credit card market, and liquor manufacturers with several bottling units. He has also worked on enterprise risk management engagements, developing frameworks to effectively identify and address strategic and operational risks through structured monitoring and reporting mechanisms. For instance, he assisted a leading footwear company in re-assessing its ERM framework, prioritizing key risks, and co-developing a comprehensive mitigation plan. Gaurav has extensive experience in compliance program implementation, where he has been responsible for setting up compliance functions and reporting structures, ensuring comprehensive mapping of legal and regulatory requirements across functions, and strengthening ongoing compliance monitoring. Additionally, he successfully managed end-to-end IFC implementation for one of India’s leading healthcare brands, covering 24 hospitals across the country.

Key Expertise and Achievements

Risk-Based Internal Audits and Internal Controls Assurance
IFC/SOX Readiness, Implementation, and Compliance
Enterprise Risk Management Frameworks and Mitigation Planning
Business Process Reengineering and Regulatory Compliance
Large-scale IFC implementation in the healthcare industry (24 hospitals)
Award-winning governance and compliance leadership at Tata Realty.

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