1 / 3

PwC

AdditionalGRMS Teaming with External Audit/Auditors. PwC. Additional GRMS Teaming with External Audit/Auditors. Advantages: One team for company to manage One external team instead of two CAKE sharing Eliminates redundancies in internal control documentation/flowcharting

ruana
Download Presentation

PwC

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. AdditionalGRMS Teaming with External Audit/Auditors PwC

  2. Additional GRMS Teaming with External Audit/Auditors • Advantages: • One team for company to manage • One external team instead of two • CAKE sharing • Eliminates redundancies in internal control documentation/flowcharting • Dirty laundry stays within one Firm • Timing is critical – we are already on the ground • Leverages GRMS internal control/business process competency into the external audit process • Incremental costs can be measured against competition (in process) • Further leverages GRMS competencies (IT, FRM) • Enhances auditor’s understanding and therefore, ability to attest on company internal controls as contemplated by Sarbanes-Oxley • PwC wrote “COSO” and is currently writing “COSO II” • GRMS Business Risk Management Framework (ORCA) consistent with external audit methodology • Deliverables: • Short-term • Baseline Process Maps (As-Is) • Control Gaps with Recommendations Addressing Root Cause and Necessary Monitoring Controls • Key Control Matrix to be used for Attestation • Long-term • Short-term deliverables provide input into automated certification process

  3. Pwc

More Related