The pragmatic and value adding insights OCM provides through our range of service offerings have assisted our clients to improve their practices, identify and convert opportunities, increase profitability and achieve their objectives and goals.
Internal audit is a key pillar of good governance, providing an independent view on the strength and effectiveness of your risk management, control, and governance processes. OCM’s aim is to help your organisation achieve its objectives by improving your systems and procedures, strengthening controls, reducing cost and improving operational performance.
We provide an innovative internal audit service which is risk focused, pragmatic, and value adding. Our flexible methodology is fully aligned to the Institute of Internal Auditors’ International Standards for the Professional Practice of Internal Auditing. We continuously challenge ourselves to tailor our approach to your needs and to integrate our other risk offerings and specialists.
We listen to our clients and seek a deep understanding of the key issues through senior practitioner time on the ground. Our practitioners, each of whom have substantial experience, work closely with our clients to deliver the best outcomes through using the most appropriate techniques.
Internal Audit Quality Assurance Reviews
The International Standards for the Professional Practice of Internal Auditing (Standards) require an external review of the internal audit activity every five years. OCM have extensive experience in assessing conformance with the standards and identifying leading edge solutions to enhance the quality and effectiveness of internal audit at your organisation.
In addition to demonstrating the effectiveness of your internal audit unit to stakeholders, conducting an external quality assessment provides you with the opportunity to transition the function to a strategic business partner providing value adding services and advice.
Our experienced practitioners are accredited by the IIA in Quality Assessment and have conducted quality assurance reviews at organisations in both the public and private sectors. Many of our staff have been Chief Audit Executives and are able to overlay their quality assessments with practical knowledge gained through delivering an effective and efficient internal audit function.
Alliance contracts are commercial arrangements between government organisations and one or more contractors to plan and/or deliver infrastructure projects. The OCM alliance team have reviewed a wide variety of alliance arrangements involved in major infrastructure projects across Australia.
Our experience has enable us to develop a unique system of audit planning to assist in the overall efficiency of the audit process and deliver a high quality product. We conduct Establishment Audits, Early Contractor Involvement reviews, Competitive Alliance reviews, Financial Audits of Alliance Partner Claims and Prequalification Reviews.
OCM engages senior qualified consultants with experience which is unsurpassed by any of our competitors. Each consultant has over ten years’ experience an extensive knowledge of auditing and Alliance operations
Process Mapping and Internal Control Evaluation
Process mapping assists organisations to create efficient, integrated and sustainable processes that help drive value and competitive advantage. OCM’s team are highly experienced in examining core processes, understanding how they are performed, identifying and evaluating control points and making recommendations for improvement.
Our process mapping methodology allows us to understand how processes interact, identify systemic flaws and risk points and evaluate the effectiveness of internal controls intended to mitigate risk. Analysis of our process maps will enable you to increase efficiency by improving workflows and identify processes that need to be reengineered.
Our experienced staff have extensive experience across a range of sectors and industries and provide a quality product that can be used both as a strategic business planning tool, and an analytical tool for operational management to determine which activities add value.
With compliance requirements across organisations are continually evolving and becoming increasingly complex, compliance audits assist you to determine whether a process or transaction has complied with applicable rules. OCM can provide a comprehensive, cost efficient audit service to provide assurance that compliance risk is effectively managed.
Our compliance audits take two forms;
- Regulatory compliance audits to assess whether your organisations business has been conducted within legal parameters and that reasonable actions have been taken to prevent breaches.
- Internal compliance do determine whether internal policies and standards have been complied with.
OCM’s team have the expertise to help you navigate the challenges of this evolving environment to ensure that strong corporate governance is maintained and regulatory risk is effectively managed.
Information Technology Effectiveness & Control
Effective information technology management practices are vital to improving the efficiency of business processes, facilitating compliance and driving the delivery of new services. Information technology audits are a critical mechanism for ensuring the integrity of information systems and OCM’s team are uniquely positioned to provide assistance in this regard.
Our methodology is tailored to suit each engagement and complies with the Information Systems Audit and Assurance Standards issued by the Information Systems Audit and Control Association. Our focus is on ensuring that your information technology controls are adequate to safeguard your assets and maintain data integrity whilst operating effectively to allow you to achieve your objectives.
Our IT audit team have held senior positions in a range of organisations and have extensive experience in both implementing and auditing information technology control frameworks.
Performance audits examine whether an organisation is achieving economy, efficiency and effectiveness in the employment of available resources. OCM have conducted many performance audits which have directly led to improvements in governance, accountability and control for our clients.
Our approach is tailored for each engagement using our objectives focused, structured, and systematic methodology. We are experienced in examining programs, functions, operations and management systems, providing commercially realistic recommendations about where and how improvements can occur. We also identify the likely impact those improvements will have.
Our performance audit team comprises highly qualified and experienced experts who are passionate about improving the governance and accountability of our clients through objective reporting. Our team have conducted performance audits across organisations in both the public and private sectors.
Project and Program Assurance
Project or program assurance provides an independent and objective oversight of the likely future performance of major projects. OCM is a trusted and highly competent provider of project and program assurance services and have worked closely with many government agencies and private sector organisations.
Applying risk assessment and assurance activities to complex projects and programs can assist your organisation by building capacity and facilitating robust evidence-based decision making leading to improved delivery and implementation of policies, programs and services. Our team will apply a practical methodology tailored to the requirements of your project.
Our experienced practitioners have an intimate understanding of project and program management, with many having held senior positions responsible for the delivery of major initiatives. They are experienced in the delivery of project assurance services including quality assurance, pre and post implementation and benefits realisation reviews.