Conducting an internal audit for a leasing company requires a deep understanding of both conventional auditing practices and finance principles.


Business case

Board of directors and management of the Client engaged Grant Thornton Kazakhstan to conduct an internal audit of one of the largest leasing companies in Kazakhstan (hereinafter referred to as the "Target Company") for the second consecutive year based on the performance of the previous year’s internal audit, trust in the quality of services provided, and the professionalism of Grant Thornton Kazakhstan. The Target Company operates in the field of leasing and provides financing facilities to all sectors of the economy, especially to support the development of small and medium enterprises by providing alternative sources of financing for their projects.

The Grant Thornton team’s understanding of the specific regulatory requirements that apply to the client's leasing business, ensured that the internal audit included a thorough examination of compliance with these regulations.


Services provided

The scope of work included a review of the following:

Loan origination and lease portfolio management process

Examining the company's procedures for client screening and due diligence to ensure that they comply with all internal and external requirements;

Internal control systems and compliance

Assessment of the internal control system in each department and the adequacy of such control

Financial reporting processes and accounting policies

Reviewing accounting principles and financial reporting, including any significant changes in the Target Company’s selection or application of accounting principles, analysis of the expense accounting and approval process, verification of expenses for future periods and other accounts payable, review of the general and administrative expenses register, analysis of contracts with suppliers, acquisition and disposal of fixed assets, review of transactions related to the placement of excess funds;

Legal compliance

Review the legal disputes, court cases, claims against or from Company, other disputes, information on penalties applied, if any;

Human resources management

Performance evaluation process overview, review of training programs, planned and attended by employees, review of current, new and terminated employees’ personal records;

Corporate governance and risk management

Identifying and assessing the key risks specific to the leasing industry: credit risk, operational risk, compliance risk, and market risk;

Information systems and new technologies

 Conducting audit of Information Systems Management, reviewing IT management controls and operational control of IT;

Verification of compliance with corrective measures based on previous audit reports’ findings.



The Grant Thornton team identified issues related to internal compliance, operational risks, transactions with stakeholders, procurement practices, internal and external regulatory documents discrepancies.

The Target Company has made significant progress in addressing and resolving issues identified in previous periods. Building on this successful collaboration, the Client has made the decision to extend the ongoing partnership with Grant Thornton. The team will continue to conduct internal audits in the coming year, upholding their steadfast commitment to maintaining the highest standards of internal auditing and financial oversight.


Acting General Director:

«As a client of Grant Thornton LLP, I had the privilege of working closely with their team, and I am delighted to share my positive experiences and satisfaction. We engaged Advisory team of Grant Thornton LLP to assist us with Internal Audit. From the very beginning, they demonstrated a deep understanding of our business needs and challenges. We have concluded the specification for the audit of internal business processes in accordance with the company's policies, as well as in accordance with IPPF (International Professional Practices Framework issued by Institute of internal audit), internal audit standards, the Code of Ethics and other guidelines. Their team exhibited exceptional professionalism, expertise, and dedication throughout our engagement».





Igor Ugay,

Advisory Partner,



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