We carried out an assurance mapping exercise with the Trustees to identify where they were currently receiving independent assurance over the operation of controls from their external auditors and other advisors, and where there were gaps.
We carried out an assurance mapping exercise with the Trustees to identify where they were currently receiving independent assurance over the operation of controls from their external auditors and other advisors, and where there were gaps.
The Trustees recognised the need for additional assurance from an internal audit function, to confirm that the controls identified in their risk register were operating effectively.
Solution
Issue
Outcome
Assisted a loss-making business to secure working capital to fund a major new contract which would see exponential growth and profitability.
Case study -
Internal audit
How we have helped our clients
The risk process is now embedded in the Trustees’ day- to-day risk management process and provides comfort to Trustees over the governance structure of the scheme throughout the year.
We worked with the Trustees to map their information flows and the impact of the changes on the risk register. This included consideration of the risk levels of each area of the risk register after considering the changing risk appetite of the Trustees.
All schemes are at different stages on a journey to self-sufficiency. This scheme was undergoing significant changes in their governance and investment strategy and the Trustees wanted to ensure that current risk framework in place was still fit for purpose.
Solution
Challenge
Outcome
Case study -
Assurance of controls
How we have helped our clients
Solution
Challenge
Outcome
The Trustees gained an understanding of where there were gaps in assurance and the analysis helped to inform the areas of focus for the internal audit work programme.
Solution
Issue
Outcome