Process and Controls Optimisation


Process and Controls Optimisation

'The value of internal audit to senior executives is like a hidden gem – not always realised for the asset that it is'. – Carmen Abela (Board Chairman at Institute of Internal Auditors Canada)

5 Essential Truths 

  • Too much control is just as bad as too little control.
  • Changing businesses proactively realign processes and controls to unlock value/ protect margins. 
  • Successful companies maintain the right balance between control and risk to stay agile and competitive.
  • Companies are aligning processes and controls to operations and strategy. 
  • Good controls allows business leaders to be in control of their business.

5 Immediate Check Points 

  1. Do you focus on what must go right or what can go wrong? - What are the critical controls in your business and are they working effectively at any point in time?
  2. Is your organisation is “getting the basics right” or is a “back to basics” approach required?
  3. When was the last time your business processes were reviewed to promote efficiency and do you have optimal controls? 
  4. Do you identify indicators that suggest the need to review processes and controls – increased fraud and theft, high staff turnover, wastage, lower than expected profitability, evolving business processes etc.? 
  5. Did you consider the design of process and controls in any new transaction or activity requiring significant spend?

Access our latest thought leadership on process and controls optimisation

Controls Transformation

The changing role of Internal Audit

Did you find this useful?