Tailored expertise to minimise your risks and maximise your returns.
We understand the major threats to business today and how they land on your organisation — changing business dynamics, cybercrime, corporate failures with increased stakeholder accountability. All of it raises the value of identifying risk, and the right response to it, as early as possible.
What you get, and the benefit you accrue
- Identification of potential revenue leakage
- Improvement of operations and identification of potential cost savings
- Introduction of best business practices
- Assurance on the design and effectiveness of controls
- Focus on protecting company brand and reputation
How we do it
Understand the business
Gain an understanding of business goals, objectives and focus areas from discussion with process owners. Validate risks and align focus areas.
Audit planning
Prepare a detailed audit schedule against the audit plan and discuss it with the process owners before fieldwork starts.
Risk and control
Document and analyse objectives, risks and controls. Conduct walk-throughs of sample transactions. Assess the impact of any control failure.
Reporting
Summarise findings, discuss with process owners, agree an action plan and timeline, and present the audit report to management.
Issue tracking
Follow-up testing to confirm each issue has actually been remediated.
You end up holding: the audit schedule, the risk and control matrix, test-of-control documentation, the audit report, and the follow-up tracker.
Illustrative scope
On a manufacturing engagement the scope typically covers:
Production & planning
- BOM management review
- Material consumption and yield
- Production planning and control
- Scrap monitoring
- Quality control and rejection
- Maintenance review
Inventory
- Gate inward
- Receiving and warehousing
- Issue and rejection handling
- Subcontracting
- Physical verification and adjustments
Order to cash
- Product pricing
- Customer sales order management
- Sales returns and credit notes
- Accounts receivable management
Procure to pay
- Material and vendor master maintenance
- Procurement planning
- Ordering and monitoring
- Purchase accounting
- Vendor evaluation and payments
Accounts & finance
- Receivables and payables
- Sales accounting and job work
- Investments and other income
- Financial book closure
- Cash and bank
Hire to retire
- Employee master management
- Hiring process
- Compensation management
- Performance management
- Separation and retirement benefits