Internal Audit & Risk Management
Latitude 12 provides effective solutions in Governance, Risk and Compliance (GRC) to help you create business value by improving business processes, through cost effective savings identification, minimising risks and leveraging your strengths.
The team can provide these services as a fully outsourced service or under a partnering agreement on a project basis.
- Entity wide Risk Management (ERM)
- Internal Audit Reviews
- Corporate Governance Advisory
- Operational and Process Reviews
- Fraud Investigation & Forensic services
- Compliance Reviews
- Policy and procedures development and management
- Information Systems Audit
Why Latitude 12?
Internal Audit provides assurance to the organisational heads that your processes and controls are operating efficiently and are aligned with your desired outcomes and objectives. It is a catalyst for improving an organisations effectiveness and efficiency, by providing insight and recommendations based on analysis and assessments of data and business processes.
Internal auditing provides value to governing bodies and senior management as an objective source of independent advice. The internal audit team has extensive knowledge of the Government Act, Federal laws, Corporate laws, Government regulations, and other professional laws by which entities are governed, that can help you in managing your compliance obligations. The knowledge and expertise of the team is continuously updated to offer the best in practice solutions to your business problems.
The scope of Internal Audit within an organisation is broad and may involve topics such as the efficacy of operations, reliability of financial reporting, deterring and investigating fraud, safeguarding assets and, compliance laws, regulations and internal policies.
ERM helps you identify, assess and manage your risks to enable you to achieve your desired objectives. These risks could be strategic, financial, operational or compliance risks. The outcome is a forward focused risk management system which is owned and led by directors, overseen by senior management on a day to day basis and embedded in business processes and the organisational culture. We use state of the art Risk Management Software’s to manage the entire risk management process and take the burden of risk management off your shoulder. Our services include:
- Establishment of Risk Management system as per AS/NZS ISO 31000
- Conducting Risk Management workshops
- Facilitating establishment of Risk Registers and its ongoing maintenance
- Risk Management software – selection, configuration , administration and management
Internal audit reviews provide assurance that your processes and controls are operating efficiently and are aligned with your desired outcomes and objectives. It aims at evaluating and improving the effectiveness of risk management, control and governance processes in an organisation. Our services include:
- Establishment of strategic 3 year Internal Audit plans and Annual Internal audit plans
- Performance of Internal audit reviews as per the internal audit plans
Our specialised Corporate Governance Advisory services are in the area of constitution and management of Audit Committees in organisations which have an administering role over Governance, Risk and Compliance in these organisations. Our services include:
- Establishment of Audit Committees
- Advice on Audit Committee charters, make up and functionality of committee
- Administration and management of Audit Committee meetings
These reviews are aimed at reducing waste, economising operations and increasing efficiencies.
Our business improvement services help maximise your opportunities, minimise costs and streamline processes so you can focus on more important areas of your organisation. We assess and develop processes in line with quality standards to ensure that you are performing best practice and your investment in improvements are at the cutting edge.
We offer services to detect and investigate unethical behaviour, particularly, fraud and corruption.
Our services help prevent and detect fraud, misconduct, breaches of rules and regulations.
Our services include:
- Performing forensic reviews
- Devising fraud prevention measures
- Liaison with Regulatory agencies in relation to fraud
We have a team of experts who keep themselves aware of all the latest developments in the legal and regulatory environment. Compliance reviews ensure that the organisation is compliant with all applicable laws and regulations. We offer you tools and methodologies to manage compliance easily and comprehensively.
We assist organisations with Policy Management services across the whole spectrum of their operations. We offer an integrated package of compliance and risk management policies and procedures. We maintain the policies and ensure that they reflect your changing business needs as well as being up to date with regulatory changes. Our services include:
- Policy development
- Policy review and management through efficient workflow solutions
- Maintenance of an efficient Policy Portal
Information Systems Audit (IS audits)
Information systems audit reviews focus on effectiveness and efficiency of IT operations in achieving the organisational objectives. These reviews involve verifying integrity of processing, confidentiality of information and its continued availability. Our services include:
- Review of IT general and application controls
- Review of DRP (Disaster Recovery Plan) and BCP (Business Continuity Plan)