Virtual Treasury Audits

Status quo

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Boards and senior finance executives require regular and timely assurance that the treasury activities of their organisations are operating efficiently, securely and within the prescribed governance framework.

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Whilst lower level assurance may be provided through an overarching annual assurance process, in-depth treasury assurance can only normally be provided by dedicated treasury reviews or treasury audits. These are highly specialised, require knowledgeable staff, are invasive to the auditee.

 

Typically these reviews and audits either happen infrequently, as part of a rotating audit program, or are initiated at short notice by an executive because of a suspected issue. In some cases costly external consultants may be engaged, in others specialist internal treasury staff may be seconded from their existing duties. 

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Our solution

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Using our defined methodology we:

 

• Study and understand the specifics of treasury activities and governance within your organisation

• We develop an extensive, detailed, e-enabled, treasury specific questionnaire where we asked probing and searching questions based upon our own real life experiences, we request evidence to support specific answers

• We send this questionnaire to all, or some, of those undertaking treasury activities within your organisation for their completion

• We monitor, follow up, and report on the status of each questionnaire until completion

• Once completed we review each answer in every questionnaire, and seek further clarification where necessary

• We provide a report to you highlighting gaps, failings, omissions and common themes

• We discuss with you where further focus may be required and perhaps a physical visit

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....more

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