Manufacturing Company - Internal Audit Consulting, Canton, OH

PB Advisors was asked to complete an assessment of the internal audit control environment at several plant locations of a manufacturing company, headquarters located in Canton, Ohio.

Internal Audit Consulting Services Requested By:

Director of Internal Audit

Solution:

A General Internal Control Audit covering:

• Cash

• Accounts Receivable

• Inventory

• Fixed Assets

• Other Assets (Intangibles, Prepaids, Deposits)

• Accounts Payable

• Accruals

• Intercompany Reconciliations

• Human Resources and Payroll

• Month End Close Process and Financial Reporting

• Plant Tour and Safety Analysis

Audit included gaining an understanding of each process through inquiry and observation producing narratives and walkthroughs and leading to detailed testing and full documentation through a series of workpapers.

Results/Deliverables: 

• A detailed Findings spreadsheet was compiled listing the areas needing improvement and our recommendation for remediation

• A full detailed report including background of the plant, location financial statistics, IT systems used, organizational analysis and overall internal audit conclusion

• Management meeting to ensure proper understanding of the findings and recommendations and to set a timetable for follow-up procedures

• A summary report was provided to the Audit Committee including the findings, recommendations and an overall rating of the control environment

Location: Canton, OH - 44720

Please contact us today to discuss your Internal Audit: 
Patrick Brogan, President
CPA, CIA, CFE
PB Advisors
440.915.1180