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Strategic audit is an exercise oriented at a comprehensive determination whether your project or business is attaining its objectives, following procedures and working in the most optimal way. Typically audits are associated with a lot of accountants storming client’s offices to check the books and assess any flaws in the reporting lines and company’s books. However, in case of strategic audits the process is much broader and looks into resources, value of supply chains, internal competencies and thousands of other aspects related to the business.
While Big 4 companies are normally tasked with financial audits, strategic audits being a different animal, to be effective should be done by business insiders. Dry knowledge about cash flows and general corporate rules is not always sufficient to bring results in the construction and technology sectors. A desktop review or an interrogation of a simple database is not enough too. A number of corporate failures within this field prove this quite distinctly.
Our approach to strategic audits is much more comprehensive and pragmatic, and always as minimum contains a review of:
• Pragmatic and practical review of procedures, and overall operational and strategic health
• Vertical and horizontal checks of site and site office activities
• Data reliability and data channels in reporting structures through manual and algorithmic checks
• Performance of each function and the quality and relevance of its outputs
• Internal resilience and business continuity
Following this, aside from producing a comprehensive report detailing our efforts and documenting our findings, we will provide you with a set of robust improvement recommendations.CONTACT US