In the modern business world there is no place for random decisions. Effective risk management and internal processes are becoming key success factors. And this is where the Grant Thornton Kazakhstan team made a significant contribution to the development of the customer.
The board of directors and management of one of the largest vertically integrated enterprises in the world, engaged in the production of titanium and magnesium, providing 25% of the world's titanium production and servicing the aviation industry (hereinafter referred to as the Company), invited Grant Thornton Kazakhstan to train and improve the qualifications of the head of internal audit and his team. This decision was made based on trust in the high quality of services provided by Grant Thornton Kazakhstan and the professionalism of their team.
The main focus of the Target company's work is on ensuring high quality, which is confirmed by certificates from leading international aerospace companies. The Grant Thornton Kazakhstan team is committed to ensuring compliance with all regulatory requirements applicable to the client's operations and includes a thorough examination of compliance with these regulations in the training program.
The scope of work included joint development, training and testing competence on the following documents when conducting an internal audit of one selected business process:
Following a comprehensive risk assessment carried out by professionals from Grant Thornton, a detailed analysis of the identified potential threats and risks was carried out. These risks were classified by level of severity, the necessary steps to mitigate them were identified, and the required resources were calculated to successfully implement an effective system of internal controls, as well as ensure compliance with existing rules, procedures and control systems. Company has achieved notable success by emphasizing the importance of systematic risk management and control of internal processes. This experience shows how investing in training in internal auditing techniques can ensure stability and long-term success in today's business.
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