Operational audit and optimization of business processes

In the modern world, the competitive struggle between organizations offering their services on the financial markets is becoming increasingly intense. Independent and qualified assessments of risk management and internal control systems therefore play an important role in an organization’s development and its integration into global economic processes.

Our experts conduct standard operational audits of financial organizations guided by SAS 70 (Statement on Auditing Standards (SAS) No. 70, Service Organizations, as developed by the American Institute of Certified Public Accountants (AICPA)) and widely recognized by the global financial community.

The main purpose for operational audits under SAS 70 is to standardize and optimize business processes that confirm company maturity, show the openness and transparency of the organization’s rules and procedures for its counterparties, and allow consideration of the most diverse interests and needs of business participants.

The purposes of operational audit under SAS 70 are therefore to:

   
• >  assess internal policies and the efficiency of organizational procedures
• >  determine drawbacks in the existing structure of internal control systems with a view to its improvement

The result of the operational audit is a management letter describing the existing business risk factors, along with recommendations for improving the financial organization’s activity.

If you are interested in our services for financial institutions, please call your FBK partner Aleksei Terekhov, vice president for audit and consulting services to financial institutions.

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