Independent Audit

The overall purpose of an independent audit is to provide verification of records, processes or functions in a sufficiently independent manner from the business being audited in order to add value and improve its operations.

To conduct an audit an APC consultant through a combination of interviews and reviewing reports, audit files and internal audit processes, will get to the heart of the matter. A fresh pair of eyes helps an internal audit meet expectations and make sure it's fit for purpose. At the same time, periodic review of internal audit by independent specialists helps you comply with international standards for quality and production.

Electronic data analysis helps internal auditors to meet the rigorous demands of manufacturing audits. The complexity of current manufacturing processes extends far beyond the scope of traditional cost and financial accounting. Enterprise resource planning (ERP) and other subsidiary production systems, used by manufacturers, require audit programs with powerful data extraction and analysis capabilities. An APC Auditor will utilise the APC systems to analyse manufacturing data.

APC Auditors needs to trace transactions through a multi-step production environment and accumulate costing calculations at each level of operation. The standard manufacturing audit covers the processes of quantity of material components, labour hours per piece, and machine rates. The APC systems are designed to extract multiple occurrences of user criteria and can be employed to create an exception report of raw material, labour and machine rates across departments. Auditors can then investigate the exceptions and determine the validity of department standards or identify any corrections required.

In addition to assessing internal audit effectiveness, APC can provide strategic support by advising on developing and promoting internal audit's role in the overall risk, control and assurance framework.

Independent Benchmark

A benchmark is a comparison of performance. Benchmark performance is generally related to specific industry sectors and applies more specifically to manufacturing processes. These manufacturing processes can be similar or identical in different regions of the world. Benchmark performance is usually applied to quality, productivity, delivery, agility, purchasing, and production control.

To conduct a benchmark an APC consultant collects performance data from financial, business or manufacturing processes. APC consultants will apply a methodology and the information necessary to perform a benchmark. The Consultant then compares the performance of the participating company's business units, drawing a benchmark curve. The curve can also be reviewed against other companies in that industry sector.

It is necessary to have an independent consultant to work on a benchmark so each company business unit will be able to identify their position on the benchmark curve while getting an indication of where other business units are located on the curve.

A benchmark is generally conducted by an industry expert. Each APC Consultant has a minimum of 20 years of technical expertise in financial, business or manufacturing processes.

Independent Risk Profiling

Risk profiling involves the systematic collection of information needed to make a decision on what will be done next and where resources should be allocated to more detailed scientific assessment. The management of risk is a continual cyclic process which includes risk assessment, risk decision making, and implementation of risk controls, which results in acceptance, mitigation, or avoidance of risk.

APC consultants have developed extensive knowledge and expertise in operational risk. Our solution involves applying mathematical models and customised software to quantify operational risk. Evaluating the risks helps to get the right risk/reward balance and avoid problems. APC then establishes a governance framework to support and control risk.

To control risk we must also look at culture, process, structure and product. To fostering the right culture provides a solid basis for driving a strategy forward. Aligning the culture with the company vision and communicating it with shareholders and other stakeholders can increase confidence in the organisation's direction, leadership and management.

In addition to risk profiling consulting APC software systems can automate the process of identifying, measuring and monitoring operational risk. APC combines powerful document and process management with a monitoring and decision support system which enables organisations to analyse, manage and mitigate risk in a simple and efficient manner.