Audit Descriptions and Benefits

1) Business Interruption
      This audit investigates whether or not company has business interruption insurance, a business interruption plan  and whether or not risk assessment has been done.  Benefits include prevention or mitigation of possible losses if interruption occurs.

2)  Costing and Pricing
      This audit investigates the ways a company collects and uses the various costs it incurs and how it uses them to quote prices to customers. Benefits include a better understanding of the origin of the costs and also how these costs are used to build up their quoted prices.

3)  Financial and Accounting
      This audit investigates the financial and accounting practices inside a company. The benefits of this audit include the establishment of practices that provide a clear picture of the current financial condition of the company.

4)  IT and Physical Security
      This audit investigates the current state of IT the Physical security facilities in place to protect vital assets. The benefits of this audit are that it provides a framework for correction and changes to practices that are not securing information or physical assets.

5)  HR and Management Practices
       This audit investigates practices within the organization that relate to HR and management that a company uses to manage its daily affairs. The benefits of this audit are that it identifies policies or practices that may be illegal or detrimental to the operation of the company.

6)  Processing
       This audit investigates how orders are processed (moved) through a shop looking at everything from order entry through shipping. Benefits include the discovery of efforts that are not adding value to the entire process to sell parts at the lowest price with quality that meets or exceeds customer expectations.

7)  Safety
       This audit investigates the various safety practices inside the company. The benefits of this audit are to identify and improve those safety procedures that are not ensuring compliance to prevailing law as well as providing a safe work environment for the employees.

8)  Sales and Marketing
      This audit investigates the current state of the company’s sales and marketing efforts both from a practices and compensation perspective. The benefits include a better coordination of the sales effort and more effective ways to compensate the sales force. Marketing recommendations will also be made to improve the effectiveness of the sales force.

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