INTERNAL AUDIT, RISK MANAGEMENT  & GOVERNANCE

In an environment of high profile corporate scandals and an increased emphasis on corporate responsibility, the traditional role of internal audit has expanded.

Companies are under a constant spotlight in terms of compliance with a rapidly changing regulatory landscape and increasing demands from stakeholders to exhibit sound corporate governance. Now, more than ever, internal audit needs to rise to the challenge and demonstrate its value.

At OMA, we listen to our clients and offer a tailored solution, provided by a team who are passionate about assisting clients to future-proof their organisations by managing risk, enhancing controls and improving corporate governance.

INTERNAL AUDIT

Our internal audit consultants work with financial executives, management and audit committees to assist them with their internal audit responsibilities.

OMA provides an independent, structured and disciplined approach to the assessment of the adequacy and effectiveness of the control framework of an organisation. We provide expert advice and add value by suggesting improvements to business and financial controls.

IS YOUR BUSINESS…

In partnership with your organisation, we document and analyse existing controls and processes. After a detailed evaluation we present our findings, highlighting any weaknesses, along with strategies for improvement.

OMA can meet your internal audit needs by providing a fully outsourced service, allowing your organisation to focus on its core business, or support your existing internal audit function through a co-sourced service.

BENEFITS

The benefits of calling in OMA’s internal audit specialists to appraise and advise include:

  • Guidance from a team of experienced professionals who will help you look deeper and see further
  • Peace of mind that your organisation’s risk management and compliance is in good hands
  • Assurance on the adequacy and effectiveness of your systems and control framework
  • Ongoing improvements to processes and procedures which help the organisation to provide a better, more streamlined

RISK MANAGEMENT

OMA’s  Risk  Management  services  provide  a  simple but practical approach to the sometimes complex task of monitoring and managing key risks within an organisation.

Each business is unique in its approach to risk. Our job is to define   the current culture, evaluate all possible risks, and advise on ways to manage identified risks. We support risk management activities by:

  • Developing risk management frameworks
  • Creating organisational risk management policies
  • Facilitating risk identification and quantification
  • Preparation of risk registers
  • Providing risk management training

DEFINE

What are the risks?

What is the financial impact of risks?

MANAGE

Avoid

Control

Accept

Transfer

MONITOR

Are the risk management strategies effective?

CORPORATE GOVERNANCE

A good corporate governance strategy is designed to balance the needs of all stakeholders in an organisation, including shareholders, employees, customers and the community at large.

It is a set of policies which enshrine the ethical culture of a company. Corporate governance, or the failure thereof, often only comes to the fore following a catastrophic event or scandal.

At OMA, we can assist you to define corporate governance principles which will promote and entrench ethical behaviour. A clearly defined set of corporate governance principles also acts as an early warning system, should any risks arise.

In addition, we can consult on ways to monitor and evaluate the extent to which the organisation, as a whole, is aware of and compliant with ethical policies.