Enterprise Risk & Compliance
Generating Enterprise Risk and Compliance Impact
The role of the internal audit (IA) team has changed dramatically from a policing body to one that is expected to add value to the business with effective controls at an optimum cost.
To support internal audit teams in achieving their business partnering goals, Genpact's unique remote site audit delivery model and internal audit methodology based on our Lean Six Sigma principles enhance internal controls, improve processes, and help clients achieve wider assurance cost-effectively.
Genpact designs, transforms, and runs end-to-end assurance programs for clients through an effective mix of on-site and offshore delivery models, data analytics, and Lean Six Sigma methodologies. We serve leading corporations around the globe through a single team, which enables us to offer unrivaled process and controls benchmarking, and best practices.
By combining our Smart Enterprise ProcessesSM framework with Data-to-Action AnalyticsSM, we deliver intelligent internal audit operations that provide effective assurance at an optimum cost.
Our internal audit services include the following:
- Risk assessments and the development of risk-based audit plans
- Full-scope audits across direct and indirect sourcing options
- Evaluation of the effectiveness of risk management and internal audit programs
- Assessments to determine the security, integrity, availability, and reliability of critical information, both financial and operational
- Reviews of existing processes and controls with applicable laws and regulations
- Training for internal audit teams
- Setup of in-house internal audit teams
Internal audit for a leading manufacturer identified US$4.5 million potential savings through smarter logistics processes
A leading manufacturer lacked efficient processes and controls for dispatch, inbound material planning, invoice processing, and freight payments.
The company leveraged Genpact's internal audit services to review its inbound and outbound logistics processes, including how transporters and agents were selected and managed; how loads were allotted, dispatched, and tracked; and how payments were made to transporters, including invoice processing.
The review resulted in recommendations for improvement that could deliver potential savings of $4.5 million annually.