Customer :
A Mining Company in the African continent.
Business Requirement :
Understand the existing Entity scoring mechanism on the following fronts:
Process Audit Findings
MIS Grading
Grading on Physical Verification of Inventory
Enable remediation mechanism for the audit findings
Enable a more robust control framework
Identified Process Challenges :
The observations identified had been classified into 3 namely:
Not Implemented
Partially Implemented
Implemented post remediation strategy
Absence of a designated Internal Audit Department to address the issues identified on timely basis
Approach and Solution Design :
Determination of RCA for observations identified.
Preparation of Robust Process wise CAT (Corrective Action Tracker) documents for observations identified with a remediation strategy.
Onsite field work support with operating items to improve the underlying control framework
Business Benefit and Result :
Improved the Entity wide scoring.
Developed process SOP’s wherever applicable for future guidance and working mechanism.
Converted majority of observations from Not implement / Partially Implement to Implemented / Partially Implemented respectively.
Process Wise CAT documents across department for way forward activities.
