An Operational Audit focuses on efficiency, effectiveness, and economy of business processes (e.g., procurement, logistics, HR). A Financial Audit focuses on the accuracy and legality of financial statements.

The core benefit is performance improvement. We identify bottlenecks, redundancies, and control gaps in your workflow, leading to lower costs, faster cycle times, and reduced risk.

We cover core processes such as Procure-to-Pay (P2P), Order-to-Cash (O2C), Inventory Management, Fixed Asset Management, HR/Payroll Processes, and IT Systems utilization.

We ensure global consistency by auditing processes across different subsidiaries (USA, Europe, Asia), identifying best practices in one region, and recommending their adoption globally for standardization and synergy.

Effectiveness is measured by the degree to which a process achieves its intended objective. For example, ensuring the Procurement department maximizes cost savings and vendor compliance.

Efficiency is measured by the ratio of output (results) to input (resources, time, cost). We seek to minimize the time and resources required to complete a process without sacrificing quality.

Economy ensures that resources (personnel, systems, capital) are acquired at the lowest possible cost while maintaining the necessary quality, preventing unnecessary spending.

Yes. We assess how effectively your employees utilize core IT systems (ERP, CRM) and recommend process changes to maximize the return on your system investment, often finding unused system features.

The report is structured into three main sections: Findings (detailed observations), Risk/Impact Assessment (quantified potential cost/loss), and Recommendations (actionable, prioritized steps.

We require access to your process documentation (SOPs), relevant transaction data (ERP/GL), organizational charts, and key performance indicator (KPI) reports.

We leverage industry best practices and our experience with similar multinational clients to provide relevant benchmarking insights for processes like days payable outstanding (DPO) and order fulfillment cycle time.

We use Advanced Data Analytics to analyze 100% of transactions, quickly identifying anomalies, trends, and systemic errors that traditional sample testing might miss.

We can function as a specialized co-sourcing partner, covering specific operational areas or geographies that your internal audit team lacks the time or specialized expertise to address.

By reviewing control design and compliance in high-risk areas like P2P and revenue recognition, we identify control weaknesses that could enable internal theft or fraud.

Depending on the scope (e.g., one department vs. global P2P), engagements typically range from 4 to 8 weeks, followed by a formal presentation of findings.

We audit the entire cycle: Vendor selection, Purchase Order (PO) usage, Three-Way Match (PO, Goods Receipt, Invoice), payment processes, and discount utilization to maximize savings and control.

We audit inventory processes by assessing stock level optimization, inventory valuation methods, obsolete/slow-moving inventory provisioning, and physical count accuracy across warehouses.

O2C audit focuses on sales order accuracy, credit management, pricing policies, billing timeliness, and cash collection efficiency to maximize revenue capture and minimize bad debt.

We audit the process for setting and monitoring credit limits, analyzing the aging of accounts receivable (A/R), and assessing the effectiveness of your collection strategies (Days Sales Outstanding - DSO) .

To ensure the efficiency and compliance of processes like hiring, termination, onboarding, time-and-attendance tracking, and benefits administration, minimizing labor disputes and compliance risks.

Yes. We audit T&E for policy compliance, proper authorization, receipt integrity, and expense coding accuracy, often identifying significant areas of non-compliance and cost leakage.

We map the entire close process, identifying dependencies and bottlenecks. Our goal is to reduce the number of close days and the volume of manual journal entries required.

We verify the physical existence of assets, assess the control over additions and disposals, and confirm the proper application of depreciation and capitalization policies.

We audit the processes used to generate MIS and AIS reports, ensuring reports are timely, relevant, accurate, and consistent across all reporting cycles and entities.

We review bank reconciliations, cash forecasting accuracy, control over bank account access, and the process for managing foreign exchange exposure.

Yes. We verify that the processes used to estimate contract duration, performance obligations, and variable consideration are consistently and accurately applied.

We audit the internal processes that generate the data used for transfer pricing documentation, ensuring that inter-company transactions are timely and properly recorded.

We analyze the volume and nature of manual journal entries, focusing on high-risk, recurring, or complex entries to identify control weaknesses and error trends.

Yes. We evaluate the efficiency of the service delivery process, focusing on response times, resolution rates, and the integration of customer feedback into operational improvements.

We audit processes like receiving, picking, packing, and shipping, using metrics like cycle time per order and inventory turnover to identify opportunities for automation and layout optimization.

We review the alignment between departmental budgets, resource allocation, and the company's long-term strategic goals, ensuring processes support the strategy.

We specifically test whether existing SOD policies are being adhered to in practice, identifying users who have conflicting access or are overriding necessary controls.

We review how user access is provisioned and revoked, how sensitive data is handled in daily processes, and whether data integrity controls are operating effectively.

We audit the controls and service level agreements (SLAs) with your key outsourcing vendors, ensuring their performance and security meet your requirements.

Yes. We assess whether personnel have the necessary training and resources to execute the processes efficiently and consistently across different global locations.

We audit the integrity of the BOM master data and the process for updating it, ensuring accurate costing and production planning.

We review the process for collecting and consolidating budget inputs, ensuring assumptions are consistent, documented, and aligned with market realities.

We audit the efficiency and controls surrounding the reconciliation of transactions between different legal entities, minimizing the time spent resolving inter-company mismatches.

We audit the efficiency of the returns process and the control over recognizing costs associated with warranty claims, ensuring they are timely and accurate.

We review the processes for creating, maintaining, and retiring master data (e.g., vendor master, customer master), as poor master data is a root cause of many operational errors.

We audit the process for approving and calculating rebates and discounts, ensuring that they are correctly applied and that payments are adequately controlled and authorized.

Yes. We can audit the process for tracking and reporting on resource usage, identifying operational opportunities for energy reduction and waste minimization.

We verify that shared costs are allocated to departments or cost centers using a systematic, rational, and consistent methodology, ensuring accurate departmental P&Ls.

We audit the process for tracking key contract milestones, renewal dates, and performance obligations, ensuring that the company maximizes contract value and avoids penalties.

We review the incident response process to ensure that compliance issues are documented investigated promptly, and remediation steps are implemented and verified.

Daily support involves Continuous Auditing focused on real-time transaction monitoring in high-risk areas (e.g., unauthorized access, high-value manual entries) to flag issues immediately.

Organizations with high transaction volumes, decentralized operations, or heightened fraud risk, requiring a real-time view of control adherence.

Weekly deliverables include a Transaction Anomaly Report, highlighting unusual trends in procurement, sales, or expense claims for immediate investigation by management.

It provides rapid feedback loops, allowing management to correct process drift or systemic errors within days, preventing them from impacting the Monthly close.

Monthly service focuses on the Financial Close Process Audit, reviewing manual journal entries, ensuring proper GL/sub-ledger reconciliation, and assessing expense accrual accuracy.

It assures management that the month-end figures were generated under adequate control, supporting the accuracy and reliability of the internal financial statements.

Quarterly service typically involves deep-dive audits into specific departments (e.g., Inventory, A/R Aging) and a formal review of SOD compliance and Master Data integrity.

Quarterly reports are more strategic, involving comparative analysis of operational KPIs across the previous three months and multiple subsidiaries (e.g., US vs. UK fulfillment costs) .

Mid-Year Performance Review: A detailed assessment of progress on previously agreed-upon remediation steps and a comprehensive reassessment of inherent risks.

Annual Assurance: A full, comprehensive audit of all core processes and controls, culminating in a Yearly Assurance Statement for the Audit Committee or Board.

Yes. We recommend a risk-based frequency—auditing high-risk processes (P2P) Quarterly and lower-risk processes (Fixed Assets) Half-Yearly.

We aim to deliver the draft report, including quantified findings, within one week of completing the data collection and interviews.

Yes. Our engagement concludes with a formal presentation and Q&A session with senior management and the Audit Committee to discuss findings and align on action plans.

We create a formal Action Plan Tracker detailing the recommended remedial actions, the responsible owner, the implementation steps, and the agreed-upon deadline.

Yes. Our service includes a follow-up audit at an agreed-upon later date (e.g., 6 months) to verify that the remedial actions were implemented effectively and achieved the intended result.

We use a standardized Global Audit Program with consistent methodology, risk ranking, and reporting templates, ensuring comparability between the US and Far Eastern operations.

Yes. Every finding is scored based on Impact (Financial, Compliance, Reputational) and Likelihood, resulting in a clear High, Medium, or Low-risk ranking for prioritization.

Yes. We can integrate our findings and action plan details into major GRC software platforms via API or data import, simplifying your overall risk management.

Yes. We often deliver updated, verified Process Flow Diagrams detailing the actual flow (current state) and the recommended flow (future state) for optimization.

We rely on objective evidence (data logs, system settings, policy documents) and maintain an open dialogue to reach consensus on the facts before finalizing the report.

Yes. A key outcome of our audit is actionable advice on updating SOPs to reflect the optimized process, ensuring operational changes are formalized and documented.

Yes. We offer Ad-Hoc services to investigate urgent issues, such as a sudden rise in inventory shrinkage or a major service failure in one market.

All personnel are bound by strict NDAs, and all data analysis is performed on secure, firewalled servers using anonymized data where possible.

Yes. We include a finding on process knowledge gaps based on employee interviews and testing, recommending targeted training solutions.

The final report is supported by comprehensive work papers, including interview summaries, data analysis outputs, process maps, and control test results.

Yes. We use systematic root cause techniques (e.g., 5 Whys) to determine the underlying, fundamental reason for recurring operational or control failures.

Yes. We assess whether the current KPIs are driving the desired behavior and suggest changes to align them with efficiency and control objectives.

We provide a quantified estimate of the potential annual savings (e.g., reduced labor time, lower procurement costs, fewer bad debts) resulting from implementing the recommendation.

Mid-Quarter checks focus on the progress of large, multi-quarter improvement projects, ensuring they are on track and managing scope creep .

Yes. Upon the successful completion of the engagement and follow-up audit, we provide a Closure Certificate confirming the audit was completed and remedies verified.

Our recommendations are vetted against the known labor and regulatory frameworks of the target country (e.g., working hours in Europe, termination rules in Canada) .

Yes. We audit the efficiency and control of processes related to local customs, shipping documentation, and regulatory approvals unique to those regions.

We utilize professional interpreters or leverage our internal multilingual audit personnel to ensure accurate communication during interviews.

Yes. We audit high-risk processes (e.g., payments to third-party agents, customs payments, hospitality expenses) to test for adequate controls against bribery and corruption.

Our audit methodology aligns with ISO 9001's focus on process orientation, continuous improvement, and evidence-based decision-making in key business functions.

Yes. We review the processes for correctly applying GST/VAT codes to invoices receipts, and payments, ensuring data integrity for filing.

Yes. This report compares the same process (e.g., P2P) across all audited subsidiaries, highlighting variances and recommending a single, optimal global process standard.

Our recommendations are always sensitive to local culture and norms. We propose changes that are flexible enough to maintain local effectiveness while achieving central control.

We audit processes to ensure that controls for data minimization, lawful processing, and responding to data subject requests are effectively implemented in day-to-day operations.

Yes. We review the process for approving, managing, and controlling access to local bank accounts, a key area for fraud risk.

We review the internal process for generating invoices and allocating shared service costs between entities, ensuring they are timely and administratively efficient.

Yes. We audit the tracking and documentation processes for compliance with dual-use goods or other controlled items in logistics and inventory.

While we do not file with regulators, our findings are formatted to be easily understood and utilized by your compliance team for submissions (e.g., providing evidence of internal controls).

We aim to simplify processes where possible, recommending the "one-size-fits-most" approach, with necessary exceptions clearly documented and ring-fenced for compliance.

We provide a visual Risk Heatmap summarizing the top operational risks identified in each country or region, allowing the board to prioritize global resource allocation.

Pricing is based on the scope and complexity (number of processes and locations audited), the estimated duration (man-hours), and the expertise required for specialized areas.

We typically offer fixed-price engagements based on a clearly defined scope, providing budget certainty for our clients. Time-and-materials may be used for uncertain Ad-Hoc investigations.

The first step is a Scoping Session and Process Discovery Workshop, where we align on the audit objectives, define the specific processes and locations to be reviewed, and confirm access requirements.

No. We offer flexibility, from a single Project-Based Audit to a multi-year, rotating Annual Operational Audit Plan for comprehensive coverage.

We conduct fieldwork remotely where possible, schedule interviews in advance, and coordinate data extraction with your team to minimize disruption to daily activities.

Our teams consist of certified professionals, including Chartered Accountants (CAs), Certified Internal Auditors (CIAs), and process specialists with deep industry experience in finance and operations .

We assign a dedicated Engagement Partner and Project Manager who have relevant industry and geographical experience, and they will introduce the full team before commencement.

We conduct a formal Engagement Feedback Review after the report delivery to ensure the process met expectations and to refine our approach for future audits.

Yes. While the audit is assurance-focused, we offer a separate Process Optimization Consulting service to assist your team in implementing the approved remedial actions and achieving the savings identified.

The goal is to establish a continuous partnership, acting as a trusted, independent advisor that consistently helps your organization improve its operational performance and control environment globally.