Manufacturing Company - Operational Audit: Flowcharting, Process and Control Improvement, Cheltenham, England

PBC Global was asked to determine areas for process improvement and to strengthen financial controls at a low producing, financially struggling location in Cheltenham, England.

Operational Audit Requested By: Director of Internal Audit

Solution:

  • Defining the overall risks associated with several key financial areas including
    • Cash
    • Sales (Order to Cash)
    • Inventory and Cycle Counting
    • Fixed Assets
    • Accounts Payable (Procurement to Pay)
    • Accruals
    • Human Resources and Payroll
    • Financial Reporting
  • Meeting with key personnel to understand the specific control procedures in place to mitigate the defined risks
  • Using software to visually map out the procedures and key process controls
  • Coordinating with other locations to ensure accuracy, consistency and standardization of control procedures across divisions and locations

Results/Deliverables:

  • Detailed process flowcharts (visual maps) for each process noting specific control procedures and employee responsibilities
  • A detailed report offering recommendations for process improvements including efficiency, effectiveness and proper risk mitigation
  • Tests and conclusions related to the final procedures adopted to ensure proper operating efficiency and effectiveness

Location: Cheltenham, England - GL501

Please contact us today to discuss your Internal Audit: 
Patrick Brogan, President
CPA, CIA, CFE

PBC Global
440.915.1180