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Steve Singer Global Internal Audit Leader steven.singer@ey.com +1 513 612 1856
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1D control environment
finance department
Audited entity 1. Treasury 2. Accounts Payable 3. Shared Services 4. Derivatives 5. Fixed Assets
Satisfactory
Needs improvement
Unsatisfactory
Ability to see the state of the control environment at a glance Benchmarking against which management and the Audit Committee can measure improvement or slippage Identifying trends in the control environment Putting the control rating results in context with the activitys risk prole Recognizing managements awareness of control weaknesses and its proactive remediation of them
Using a single-dimension approach, control ratings can be as simple as pass or fail, or as complex as having ve levels of performance. The more commonly used system applies three rating levels: Satisfactory, Needs improvement and Unsatisfactory. These kinds of ratings enable the Audit Committee to assess the strength of the companys controls. But a rating of unsatisfactory in isolation doesnt let Audit Committee members know how important the businesss activity is within the organization, the levels of risk it may pose or what management may be doing about it.
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3D control environment
Finance department
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The key to improved business performance
Unlocking the value of Internal Audit
Internal Audit global cosourcing: a case study with commentary A panel of four Ernst & Young professionals examines the differing viewpoints and comments on the hypothetical situations facing the officers of the global XYZ Technology Group.
The key to improved business performance: unlocking the value of Internal Audit Executives are looking to Internal Audit to help deliver a more sustainable, efficient and effective function. Learn how Ernst & Young can help.
Unlocking the strategic value of Internal Audit: three steps to transformation Internal Audit can play an essential advisory role within the organization capable of providing key insights that enable the business to focus on the risks that matter.
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