Case Studies

United Kingdom

A multi-billion pound, FTSE 100 equivalent organization required its Internal Audit and Risk Management functions to be closely integrated, its Internal Audit activities to be risk based and linked to a system of Control Risk Self Assessment. In six months CGC had completed the task with resulting annual savings to the organization of £800k.

A co-operative society, with business interests ranging from department stores and filling stations to funeral parlours, needed to introduce a formalised risk management system based on Control Risk Self Assessment. CGC introduced the required software, ran workshops to obtain the relevant data, modelled the data, provided in-house training and set up the on-going monitoring system.

A large manufacturer of Anti Virus software required specialist internal audits of their Sales & Distribution activity and their Marketing Development Fund. CGC managed this activity which directly resulted in the recovery of in excess of £100,000.

One specialist area dealt with by CGC is Local Authorities. To date we have introduced Risk Management software — and, where required, associated training and links to Internal Audit — into six UK Local Authorities, with more in the pipeline.

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Egypt

CGC was tasked by a quoted company to introduce both a professional Internal Audit function and a Control And Risk Self Assessment process. The work involved:

  • Risk profiling all functions within the company;
  • Writing Compliance Tests for all identified controls;
  • Installing Risk Profiling software;
  • Writing an Internal Audit procedure manual;
  • Designing an Annual Planning module for the Internal Audit function and linking it automatically to the output from the Risk Profiling software;
  • Advising on staff recruitment;
  • Conducting “pilot” audits of selected functions to test the programmes and train staff;
  • Providing on-going advice to the Chief Internal Auditor.

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Saudi Arabia

CGC has conducted assignments for some of the largest banks in Saudi Arabia. These assignments related to the introduction of Control And Risk Self Assessment systems and involved:

  • Running workshops for selected functions plus the Internal Audit departments
  • Designing Compliance Tests for the Risk Profiles built in the workshops;
  • Installing Risk Profiling software and providing training.
  • Providing on-going advice to the Chief Internal Auditor.

In addition to the above, CGC have introduced Risk Management techniques and a Risk Based Auditing approach to Saudi insurance companies, one of them the largest composite insurer in the country. As a follow-up assignment in this latter case, CGC conducted two technical audits for this company in the areas of Reinsurance and the Actuarial Services of their Life Company.

CGC's ERM solution is being used by a major group of hospitals in the region to manage risks and direct the work of its Internal Auditors.

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Jordan

CGC has conducted assignments for some of the largest banks in Jordan. These assignments related to the introduction of Control And Risk Self Assessment systems and involved:

  • Running workshops for selected functions plus the Internal Audit departments
  • Designing Compliance Tests for the Risk Profiles built in the workshops;
  • Installing Risk Profiling software and providing training.

In addition, CGC has introduced, on an out-sourced basis, Risk Management and Internal Audit disciplines to a major manufacturer in the country.

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Qatar

CGC installed a Risk Based Internal Audit system centered around an ERM process. This included risk based Internal Audit Planning, risk based Internal Audit execution and risk based Internal Audit reporting.

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Lebanon

CGC has conducted assignments related to the introduction of Control And Risk Self Assessment systems that involved:

  • Running workshops for selected functions plus the Internal Audit departments
  • Designing Compliance Tests for the Risk Profiles built in the workshops;
  • Installing Risk Profiling software and providing training.
  • Providing on-going advice to the Chief Internal Auditor.

In addition CGC have run seminars on ERM for banks and financial institutions in the country.

See also our Client List.

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