SOLUTIONS - Risk

Business Risk

Risk is inherent in every aspect of a business. Understanding where the risks are and how to assess the risks is a major concern for all businesses to focus on. We can provide the resources to help identify, quantify, manage and set realistic metrics to monitor and assess the impact of these risks on your business. Our experience base includes:
- Transaction processing risk
- Reporting risk
- Fiduciary Risk
- Market Risk
- Financial Risk
- Technology Risk

Technology solutions engaging state of the art websites, computer to computer hook-ups, client access to confidential information has pushed the control of these efforts by audit and security staff to their limits. Data security, audit and system control staff cannot keep up with the software and hardware available to capture and manipulate data by all users . We can help by reviewing and assessing:
- Adherence to SDLC (System Development Life Cycle)
- Test change management solutions
- Assess vulnerabilities and risk
- Data security procedures
- Evaluate application controls

Continuity of Business (COB) Risk

The ability to continue to run a business in contingency mode is a very real risk and threat. Most businesses have adequately planned for their major data centers and information systems to be backed up but have they in fact made arrangements to actually design and implement a total business disaster recovery methodology which is periodically tested and updated. We can help by either building a "total" Disaster Recovery Plan or review and test a plan currently in effect. Our efforts will be focused on:

- Protection of all records necessary to run a front and back office operation
- Testing the adequacy of off site premises or work at home solutions
- Client and Vendor relationships maintained with appropriate communications at hand

SOLUTIONS - Audit

Complimenting an existing Audit Department, taking over responsibilities or outsourcing audit or validating the impact and success of an existing audit department are areas in which our staff can support your business. Over 20 years of experience in directing audit staffs of from 10-100, supporting both internal and external audits, or quality assuring the existing audit program are just a few of the many directions Datachek can take.

Supporting Internal Financial Reviews with additional staff
Datachek will provide experienced auditors and product knowledge specialists if appropriate to make the audit an effective review.

Outsourcing of Internal Audit Department
Datachek can provide value added services in helping you determine if outsourcing of the audit group is in the best interests of the corporation. Will outsourcing of audit actually provide significantly better results and greater efficiencies for safeguarding the assets of your organization.

Validating success of current audit department
We will perform a quality assessment review which will include an analysis of staff utilization, audit approach and scope, and effectiveness of the reviews.

Supporting Application Reviews:
Audit coverage of any major application should be mandated to ensure that the System Development Life Cycle (SDLC) is followed, business requirements are properly documented and considered, the level of systemic controls equals or exceeds expectations and that the review process leading to implementation is strictly followed. Datachek can supply the resources to be part of this effort.

SOLUTIONS - In-House Training

Datachek can offer tailor specific on site training which will address the specific needs of your Audit Department. We will work with your audit seniors and determine the training objectives, summarize the specific points to be captured in the training sessions and include as many specific case studies create4d based on actual situations within your organization.

Tailor made in house training delivered by experienced audit communicators will raise the experience level of your staff significantly higher compared to off the shelf training offered by most other training specialists.

Topics which can be tailored to your organization can include:

Risk methodology

Continuous Audit Approach

Integrating the audit process

Building in value added concepts to the audit function to include process improvement, vendor oversight, process measurement, zero based defects.

SOLUTIONS - Process Improvement

One of the major contributions an audit function can make is to embrace the responsibility of business process improvement and integrate this approach into their continuous audit approach.

Although most audit functions today are still attempting to adequately fulfill their traditional goals of control review and assessment, many organizations are looking to build value added functions by combining similar methodologies such as risk, control and process improvement.

When combined, the results now contribute exponentially to the health of the organization and at the same time significantly impacts the execution of transaction processing.

Datachek can help you create a new corporate culture of control ownership while implementing continuous process improvement.