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, Genpact offers a unique remote site audit delivery model and internal audit methodology to enhance internal controls, improve processes, and help clients achieve wider assurance cost-effectively.
Our internal audit solutions draw on Genpact’s Lean DigitalSM approach that harnesses design-thinking methods, Lean principles, digital technologies and analytics, and deep domain expertise. Combined with on-site and offshore delivery models, our approach serves leading corporations around the globe through a single team, which enables us to offer unrivaled process and controls benchmarking, and best practices.
Through our Digital Smart Enterprise Processes (SEPSM) framework, Systems of EngagementTM , and Data-to-Action AnalyticsSM, we deliver intelligent internal audit operations that provide effective assurance at an optimum cost.
Our services include:
- Risk assessments and the development of risk-based audit plans
- Full-scope audits across industries and breadth of functions such as finance, operations, and sales distribution etc.
- Evaluation of risk management and internal audit effectiveness
- 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
- Set up 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.