Internal Audit of Treasury

The Internal Audit Director of a FTSE 100 company wishes to provide comfort to the board that treasury matters are effectively managed and controlled in the organisation especially due to the size of the transactions and risks involved.

Challenge

The complexity of treasury requires expertise that is not available amongst the internal audit team, not only to review operational processes, but also the validity of policy, strategy, risk management, governance, compliance and infrastructure adequacy.

FTI Treasury Solution

The focus of the audit is to assess the:

• Effectiveness of governance
• Appropriateness and relevance of policy
• Compliance with treasury policy and procedures
• Effectiveness of control environment – systems, processes, people
• Completeness and adequacy of procedures and controls.

FTI’s approach is to work closely with the internal audit team and adopting a comprehensive approach as follows:

Client Benefits

The Audit Director and Board receive an internal audit report containing a comprehensive assessment of the current treasury management position from both strategic and operational perspectives.

The Group Treasury obtains details of suggested improvements, actions and recommendations, if and where appropriate.