Workflow of a compliance audit by ECCG auditors
We begin by jointly determining the audit’s goals, scope, and compliance areas. In an initial overview, we plan which company areas you want to audit and in what period.
Following the initial planning, we prepare the audit phases in detail. We pay special attention to drafting the audit guidelines, taking existing compliance documentation into account. Depending on the given time frame, we assemble the audit team in terms of size and expertise. Together with those responsible for the business areas to be audited, we discuss the further procedures and start with the concrete organisation and scheduling of the compliance audit. In meetings with each department, or in individual conversations, we clearly explain the purpose of the planned audit to everyone involved.
Executing the compliance audit
Compliance auditors begin by making sure the compliance documentation is complete. They supervise the implementation of the measures, perform mystery shopping, and interview selected employees – about the success of compliance training, among other things – to check for effectiveness, which is then fully documented. Any deviation from the target you have defined will be cleared up in detail with those in charge and discussed during a final talk with the executive staff. Finally, we will join you in coming up with suggestions for the first steps to take toward improvement.
In the follow-up phase we will draw up an informative audit report. That report can then be presented to interested parties, such as authorities or shareholders. An action plan will be created based on the audit report. If necessary, we can draw from our extensive pool of experts to provide you with external specialists who know how to plan internal courses of action and carry them out.