FAMCO Associates, one of Pakistan’s oldest and most respected management consulting firms, successfully conducted the Executive Risk Management Forum in collaboration with TransVare Corporation USA. Held on June 17 in Karachi, the event attracted senior leaders and C-level executives responsible for risk management functions across the corporate sector. The forum highlighted the growing importance of digital transformation in Enterprise Risk Management (ERM), Internal Control, and Internal Audit, and explored the role of advanced technology in addressing modern risk and compliance challenges.
The forum served as a platform for in-depth discussions on how digital solutions can enhance risk visibility, automate internal audit processes, and streamline risk assessments. Participants learned how the integration of digital tools developed by TransVare can help organizations monitor risk exposures in real time and support more agile, informed decision-making. These tools are designed to automate manual tasks, improve accuracy, and reduce inefficiencies across critical audit functions.
Compliance remained a central theme, with emphasis placed on aligning risk and audit practices with internationally recognized regulatory standards such as the IMF State-Owned Enterprise Governance Framework, COSO, and ISO31000. These frameworks provide the structure necessary for ensuring that risk management systems are both robust and adaptable. TransVare’s advanced analytics capabilities were demonstrated to show how organizations can interpret large volumes of data, identify patterns, and derive actionable insights, enhancing their risk posture.
The event also highlighted how technology can improve organizational transparency and encourage collaborative risk governance across departments. Scalable and flexible by design, these solutions are capable of growing with the enterprise and adjusting to emerging risks, offering long-term cost efficiency and operational resilience.
A key session was delivered by Wasif Shahzad, Associate Director at FAMCO Associates, who offered insight into the digital audit journey and its alignment with global standards. His presentation illustrated how these tools are not just theoretical enhancements but practical assets that improve day-to-day audit operations and compliance efforts.
The closing remarks were given by Ahmed Chinoy, Director of Pakistan Stock Exchange, who reinforced the essential role of internal audit in managing enterprise risk. He pointed out that for listed companies and state-owned enterprises, strong internal audit mechanisms are critical for identifying and addressing risk before it becomes disruptive. He further noted that proactive use of digital tools in audit and risk tracking significantly improves management response times and supports better governance outcomes.
Live demonstrations gave attendees a chance to engage with the digital tools firsthand, while the event also provided networking opportunities for participants to build relationships and share knowledge across industries. A lunch session added a productive, informal layer to the gathering, enabling the exchange of experiences and insights centered on aligning with IMF SOE Guidelines and enhancing future readiness.
Reflecting on the forum, Noman Siddiqui, CEO of FAMCO Associates, expressed satisfaction with the engagement and dialogue the event generated. He reaffirmed the organization’s commitment to promoting innovation in governance and advancing digital transformation initiatives that support stronger compliance and audit practices across Pakistan’s corporate ecosystem.
