Background:

Corporate Finance Director and Internal Audit Department of £700m turnover multinational financial services organisation.
The external auditor's report identified weak financial controls in overseas offices.

Needs:

  • To improve the quality and consistency of the existing self-assessment questionnaire on financial controls.
  • To improve the knowledge of company standards in overseas offices.

Solutions We Provided:

  • Defined a questionnaire structure which provides consistent reporting.
  • Reviewed existing standards and best practice manuals.
  • Improved guidance for identification and implementation of appropriate controls.
  • Used our Internet-based system to ensure that the latest best practice and standards are available to all offices.
  • Helped develop a communication strategy and training plan to complement the programme.

Results:

  • Project was a catalyst for the development of clear operating guidelines for overseas offices based around the questionnaire structure.
  • Reduction in manpower involved in collecting and collating paper and questionnaires from forty locations worldwide.
  • Client is now considering an extension of this approach to cover other areas of risk and a global programme.

Willis In History

Did you know Willis was the construction broker for the Hong Kong Airport at Chek Lap Kok, one of the world's largest reclamation operations of its time where the surrounding waters were filled in to form a new man-made island?