Internal Audit Department,

ORGANISATION

• Global Industrial Battery Producer – $2Bn revenue, 9000 FTEs

project SCOPE

• Company just started to be quoted on NYSE and therefore an Internal Audit dept. was required.:

project GEOGRAPHY

EMEA
manufacturing: UK, FRANCE, GERMANY, ITALY, POLAND, BULGARIA. other entities: – all 30 remaining European Countries

FINDINGS

• Lack of Internal Audit department: staff, budget, methodology,
• weak corporate governance culture
• non standardized and weak internal control systems
• lack of control risk management:
  • documentation
  • testing
  • analysis

CHALLENGES

• project complexity (6 entities full scope + 30 entities limited scope in EMEA)
• time constraints, delay on starting point

ACTIONS

• plan (staff, processes, budget)
• building risks map based on SOX
• hiring team of auditors
• budget and audit plans
• ensuring independence from operational management
• assisting with issues cleaning/follow up process
• cooperation with auditors from other regions (APAC, Americas)
• strict cooperation with E&Y (Auditor)

EXPERTISE APPLIED

Audit & Assusrance

• audit procedures (sampling, testing, walk-through, documentation, investigation)
• IT audit procedures (general IT controls)
• Audit Dep’t staff managment

Internal Controls and Procedures

• internal controls (design, implementation, monitoring) frameworks standards (PCAOB, COSO, COBIT) SOX/RCM (Risk Controls Matrix):
  • implementation,
  • management,
  • transition
• business process: (assessment, streamlining, simplification, permanent monitoring)
• process documentation (narratives, workflows,
• walkthroughs, testing): O2C, P2P, R2R, others

Risk management

• Risks mapping
  • Risk Assessment & Analysis Risk Mitigation Strategies
  • Risk Identification
  • Compliance risk
• promoting culture of risk approach
• permanent risk monitoring

Ethics and Integrity

• Promoting Culture of Integrity
• Gaining/Building stakeholder’s trust

Languages

French, Russian, Polish

DOWNLOAD FILE

Internal Audit Department (EMEA) (pdf) – less than 1MB

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