Limited independent assurance
Leadership relies on reports from the same teams that run the processes, with no independent confirmation that controls work as intended.
Overview
Audit and Assurance
Management decisions are only as reliable as the processes and controls behind them. An audit and assurance engagement gives leadership an independent view of how the business actually operates, where risks sit, and where controls need attention.
CORPAC approaches audit as a constructive exercise. We review processes against the way the organization is meant to work, document what we find in plain language, and agree practical recommendations that management can act on.
Business challenges we help address
Unidentified risk exposure
Risks that build up gradually across departments often go unrecorded until they affect results or compliance.
Inconsistent control practices
Approvals, reconciliations and segregation of duties vary between teams, locations or individuals.
Preparing for scrutiny
Lenders, investors, regulators or acquirers may ask for evidence of sound controls and reliable records.
What the service includes
Specific scope is agreed with you after we understand your requirements.
Internal Audit
Risk-focused review of operations, finance and administration, with findings and recommendations reported to management.
Operational and Process Audit
Evaluation of how key processes run in practice, compared with documented procedures and good practice.
Risk Assessment
Identification and prioritisation of financial, operational and compliance risks to focus attention where it matters most.
Internal Control Review
Assessment of the design and operation of controls over approvals, records, cash and reporting.
Compliance Review
Checks of adherence to internal policies and applicable statutory requirements, with gaps clearly highlighted.
Financial Statement Review
Review of financial information for consistency, completeness and supporting documentation.
Due Diligence
Structured review of financial and operational information to support transactions and investment decisions.
How we work
How CORPAC approaches the engagement
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01
Scope and plan
We agree the objectives, areas of focus and timelines with management, and identify the information required.
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02
Review and test
We walk through processes, examine records and test controls to understand how work is actually performed.
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03
Report clearly
Findings are documented with their causes, risk implications and recommended actions, ranked by priority.
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04
Follow up
We discuss remediation with responsible owners and review progress against the agreed actions.
Potential business benefits
- A clearer picture of where controls are strong and where they need attention
- Prioritised recommendations that management can act on
- Better preparedness for lenders, investors and regulators
- A stronger basis for policies, SOPs and accountability
Relevant industries and business types
This service can be adapted to a range of organizations, including:
- Financial Services
- Manufacturing
- Healthcare
- Construction and Real Estate
- Education and Professional Services
Shown as intended capability areas, not a list of past clients.
Frequently asked questions
How is internal audit different from a statutory audit?
A statutory audit is a legal requirement focused on the fairness of financial statements. An internal audit is commissioned by management to examine processes, controls and risks throughout the year, and is not limited to the financial statements.
How is an engagement scoped?
We begin with a conversation about your objectives, structure and concerns, then agree the processes, locations and period to be reviewed before work begins.
What do we receive at the end of an engagement?
A written report that sets out observations, the risk each one represents and practical recommendations, followed by a discussion with your team.
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