Common Challenges Our Clients Have Faced – And We’ve Helped Solve
Insufficient capacity or absence
of an internal audit function
Non-compliance with
the Global Internal Audit Standards
Implementation and testing of SOX/ICFR controls
Support for the company’s strategic objectives
Insufficient auditor specialisation
for technically demanding audits
Low effectiveness and added value of the audit
Ensuring the functionality and effectiveness
of the internal control system
Development of internal audit
How We Help
References
External Assessment of the Internal Audit Function
We performed an independent external assessment of the internal audit department at a major Czech energy company and its compliance with the Global Standards. The output was a quantified maturity assessment of the department and benchmarking against comparable companies in the Czech Republic and abroad. Additionally, we proposed several practical recommendations and set priorities to further increase the quality of internal audit.
Co-sourcing
We have a long-term cooperation with the team of a major Czech distributor of pharmaceuticals and a pharmacy network in carrying out planned and ad-hoc audits. We provide expert capacity enabling the client to meet the annual audit plan and the demanding expectations of company management for the services delivered.
ICS and SOX
We introduced SOX/ICOFR requirements into the control environment of an international group operating in the automotive industry. We mapped the internal control system, performed a GAP analysis and proposed measures to achieve compliance with the group requirements. We subsequently tested the measures and individual controls. The output was an agreed matrix with the testing results of the design and the effectiveness of controls.
Outsourcing
We provide comprehensive internal audit services for a company managing a closed-end investment fund. We prepare and implement the strategic internal audit plan, a comprehensive risk analysis and an assessment of the effectiveness of the internal control system.
