Financial Services
Risk & Assurance
Driving Efficiency in Internal Audit
Large Retail Bank
50%
Reduction in Findings
The Challenge
The bank was facing audit backlogs and high compliance costs with their internal audit function.
Our Solution
The Shard co-sourced the internal audit function, re-engineered the audit plan focusing on high-risk areas, implemented an issue-tracking dashboard, and provided training to internal auditors.
The Results
50% reduction in audit findings recurrence year-over-year, with praise from the Audit Committee for improved insight and reporting quality.
Quick Facts
Client
Large Retail Bank
Industry
Financial Services
Service
Risk & Assurance
Reduction in Findings
50%
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