Tag: Kroll

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Virat Kohli Reclaims Top Spot in Kroll’s Celebrity Brand Valuation Report with Brand Value of Nearly USD 228 Million

Jun 24, 2024 by Mansi Praharaj 0 Comments #Aviral Jain, #Bollywood, #brand endorsement portfolios, #Brand Value, #brand values, #brands, #BUSINESS, #Celebrity Brand Valuation Study, #India’s most powerful celebrity brands, #Kroll, #Kroll’s Celebrity Brand Valuation Report, #leading independent global risk and financial advisory solutions firm, #Managing Director, #ranking of India’s most powerful celebrity brands, #social media presence, #Valuation Advisory Services at Kroll, #Virat Kohli

MUMBAI/NEW DELHI: Kroll, the leading independent global risk and financial advisory solutions firm, announced today the launch of the ninth edition of its Celebrity Brand Valuation Study titled, “Brands, Business, Bollywood”. The study provides a ranking of India’s most powerful celebrity brands based on brand values derived from their brand endorsement portfolios and relative social media presence.

The overall brand value of the top 25 Indian celebrities included in the latest study is estimated at $1.9 billion in 2023, an 18% jump from the previous year.

Key findings of the report include:

● Virat Kohli reclaimed the number one spot with a brand value of $227.9 million, nudging Ranveer Singh to second place at $203.1 million.

● Shah Rukh Khan secures third position with a brand value of $120.7 million on the back of three blockbuster hits in 2023, marking his incredible return into India’s top five celebrity endorsers since 2020.

● Akshay Kumar dropped a rank this year to the fourth position with a brand value of $111.7 million while Alia Bhatt moves to fifth with a brand value of $101.1 million.

● Other notable movements include the meteoric rise in brand value of Kiara Advani moving from rank 16 to rank 12, and Katrina Kaif returned to the list of India’s most valued celebrity brands after five years.

Aviral Jain, Managing Director, Valuation Advisory Services at Kroll said, “Our report recognizes the expansion of celebrity-owned startups across various industries and the spectacular rise of Indian celebrities as global ambassadors of reputed global brands. The year 2023 also witnessed Bollywood’s powerful comeback to the film industry, with blockbusters breaking records to cross the $100 million mark—re-establishing Bollywood’s dominance in the film industry. The synergy between celebrity entrepreneurship, global star advocacy and the resurgence of Bollywood is set to redefine the dynamics of the entertainment and business industries.”

About Kroll

As the leading independent provider of risk and financial advisory solutions, Kroll leverages our unique insights, data, and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the firm’s nearly 100-year history of trusted expertise spanning risk, governance, transactions, and valuation. Our advanced solutions and intelligence provide clients with the foresight they need to create an enduring competitive advantage. At Kroll, our values define who we are and how we partner with clients and communities.

Business World

Empowering and investing in internal audit improves the effectiveness of fraud risk management, Kroll and Internal Audit Foundation survey finds

Aug 5, 2020 by Gouri Achary 0 Comments #“Fraud Risk Management in Internal Audit”, #a division of Duff & Phelps, #compliance, #cyber resilience, #global leader in risk mitigation, #investigations, #Kroll, #security and incident response solutions, #The Institute of Internal Auditors (IIA) and Internal Audit Foundation, #the nonprofit research and publishing arm of The IIA

Kroll, a division of Duff & Phelps, the global leader in risk mitigation, investigations, compliance, cyber resilience, security and incident response solutions, The Institute of Internal Auditors (IIA) and Internal Audit Foundation, the nonprofit research and publishing arm of The IIA, today identify that greater empowerment of and increased investment in an internal audit can have a significant impact on the effectiveness of fraud risk management programmes. This is highlighted in a new research report, “Fraud Risk Management in Internal Audit”.

The report, based on a survey of over 700 internal audit professionals across the globe and across industries, reveals that the vast majority (80%) of internal auditors are facing barriers to being involved in managing fraud risk, despite almost two thirds (62%) saying they had seen an increase in fraud incidents over the past five years.

Tarun Bhatia, Managing Director and Head of South Asia at Kroll comments:
“As the pandemic continues to affect and transform the way we do business, new risks and frauds are emerging, making it an ever more challenging environment for companies to operate. The current conditions where businesses are suffering, people are desperate, system and processes are compromised, can lead to a perfect platform for fraud to occur and go undetected. These extraordinary circumstances demand a greater emphasis on fraud risk management.”

“Following recent scrutiny of the external audit profession globally, the focus is turning to companies’ internal defences against fraud, of which internal audit can be a key participant. India is no different. Traditionally internal audit as a function has been outsourced and lacked management focus. A stronger and specific mandate for internal audit and increased focus of boards towards strategic fraud risk management will add significant value and ultimately contribute to reducing incidents of fraud. Greater accountability on and support from the internal audit will help companies to detect fraud earlier, and speedy investigation and remediation can be carried out when issues occur. To make this happen, there needs to be complete support from the senior management, adequate resource allocation, and recruitment of people with the necessary skillsets.”

The report shows a clear disconnect between fraud risk assessment and resulting strategic plans. Almost half of the survey respondents felt that internal audit teams were not part of enterprise-wide strategic decision making, even though 91% said that they had at least some role in assessing fraud risk.

Where internal audit was part of the strategic risk management of fraud, the process was perceived as more effective overall. Those who felt that their organisation’s risk management process was ‘very good’ or ‘excellent’ increased from 31% to 60% between respondents who were ‘very involved’ and those who were ‘extremely involved’ in fraud risk management.

For those respondents who said they were ‘minimally involved’ or ‘not involved’ in the fraud risk management process, only 12% felt that their effectiveness was ‘very good’ or ‘excellent’, with over half stating that overall the fraud risk management programme was fair or poor.

A third (33%) of respondents said a lack of resources was the biggest obstacle to the internal audit being more involved in fraud risk management processes. A further one in four (23%) cited a lack of mandate as the most significant barrier, followed by one in five (21%) who cited concerns over potential conflicts of interest.

In a webinar quick poll of 1,750 internal auditors conducted by Kroll and The IIA in July 2020, it was revealed that two thirds (65%) of internal audit professionals felt that COVID-19, remote working, and financial strains would result in an increased risk of fraud. Over three quarters (77%) agreed that, if the internal audit was more involved in strategic fraud risk management, the fraud risk management process would improve.

Richard F. Chambers, President and CEO of The Institute of Internal Auditors, comments:

“It is vital for organizations of all sizes and industries to have boards, executive management, and internal audit leaders who are well aligned in their approach to managing risk, including fraud. Internal audit plays a critical role, with other surveys supporting these findings that, when the internal audit is involved, the impact of fraud is lessened. That’s because the internal audit is well-positioned due to its enterprise-wide view of an organization to identify vulnerabilities for potential fraud and, in some cases, even to investigate. What’s clear is that internal auditors know how to follow the risks. But they must have the resources to assess the exposure to potential fraud, ensure internal controls are in place and effective to limit such risks and to offer assurance that risk management processes are robust and appropriately implemented