Internal Audit in the Energy, Resources, and Industrials Industry

Illuminating possibility

The Internal Audit Singapore practice has served a wide ranging of companies across four sub industries. Each of the industry has their unique challenges and corresponding risks. The four sub industries are:

Power, Utilities & Renewables
Industrial Products & Construction
Mining & Metals
Energy & Chemicals

We work closely with management and the board of directors to identify potential areas of risk, assess the adequacy of internal controls, ensure compliance with laws and regulations, and recommend improvements. In this regard, we provide a number of solutions such as internal audit, SOX design and testing, Compliance to regulatory requirements, data scanning & dashboarding, risk identification & assessment and business process diagnosis.

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Our Services

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Energy, Resources & Industrials: Compliance Programme

Organisations need an end-to-end process to identify and link compliance across functions to streamline processes and detect potential violations. In connection with performing compliance programme for the Energy, Resources & Industrials industry (“ERI”), Deloitte's methodology is focused on coordinating and compliance rationalisation of people, processes, tools, and technology to assist clients in the development and enhancement of ERI compliance programme.

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Internal Audit on Sustainability Reporting Process

As the third line, internal audit plays a vital role in assuring fundamental financial, operational, and compliance internal controls are operating effectively and validating the effectiveness of Environmental, Social and Governance (“ESG”) activities.

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Thriving in Supply Chain Disruption

Supply chain disruption take place when one component of your supply chain fails to provide its good or service to the following process in the chain. By identifying the key business activities that could be affected by disruptions to your supply chain, you can prepare a plan of action to minimize the impact of supply chain disruption. In this article we discuss about these risks, and how we propose to address them.

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Inventory management diagnosis

Profiling inventory is crucial for efficient inventory management, cost control, and customer satisfaction. This will assist in keeping the right balance between having enough stock to meet demand and minimizing the costs associated with carrying excess inventory. By leveraging data and insights from inventory profiling, we can make informed decisions in optimising supply chain and inventory management processes.

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Thought leadership

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2024 Energy, resources & industrials outloook

Deloitte’s 2024 energy, resources, and industrials outlooks, covering manufacturing, chemical, engineering and construction, aerospace and defense, power and utilities, oil and gas, and renewable energy sectors, highlight the key inflection points, opportunities, and challenges expected in the coming year. In our 2024 Assessment of key risks and processes for Energy, Resources & Industrials, we have highlighted the common risks through our industry risk sensing, interactions with our clients and actual challenges. Here are some of the processes to be covered.

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The built environment: Pathways to decarbonization

The global built environment contributes to over 37% of global carbon emissions. To achieve net zero by 2050, the construction and real estate sectors will need to overcome endemic challenges in the value chain and embrace systemic change by adopting both a global and a lifecycle approach.

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State of digital adoption in the construction industry 2024

New technologies are changing the way construction businesses operate − and those with higher adoption rates are already seeing positive impacts. Among the markets surveyed, businesses in Malaysia are leading the charge in digital adoption, whereas those in Singapore are leading in the implementation of further technologies.

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Taking charge: Manufacturers support growth with active workforce strategies

The manufacturing sector is experiencing strong growth, yet workforce issues remain a top concern. To overcome talent challenges, our study shows that manufacturers are combining three approaches: understanding changing workforce expectations, applying a “customer focus” to workforce challenges, and using an ecosystem approach to attract and upskill talent.

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2023 Assessment of key risks and processes for Energy, Resources & Industrials

In this issue, we have segregated our wide ranging of clients in the Energy, Resources & Industrials into six common sub-categories, with each category with their unique challenges and corresponding risks. Renewables. Energy / Commodity Trading. Oil, Gas Drilling, Equipment. Pipeline, Refining and Storage. Mining Companies. Energy Production.

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