The internal audit service we provided through co-sourcing for a retail company operating numerous stores in Turkey not only served as a significant example of assessing governance, internal control, and risk management effectiveness in the sector, but also contributed to process efficiency. In rapidly growing retail companies with increasing operational volumes, significant losses can arise when critical risk factors—from cash planning and categories to inventory management, logistics/alternative sales channels/legal processes, sales, regulatory compliance, human resources (such as labor regulations, performance evaluation, training programs, incentives, store personnel), and information technology—are not carefully evaluated and managed. In this regard, risk management and internal auditing efforts conducted from an impartial and independent perspective support companies in establishing a robust control environment.
At Teolupus, we adopt a risk-focused approach specific to each company through our developed methodologies. By quickly identifying deficiencies and operational disruptions in the authorization and approval mechanisms within the ERP system, digital environment, and physical document flow through a thorough review of processes, we not only meet internal and external regulatory compliance requirements but also contribute to faster processes and more efficient use of resources. This approach paves the way for companies to achieve a stronger financial and operational structure.
The competitive and dynamic nature of the retail sector necessitates a robust internal control system for sustainable success. At Teolupus, we support our clients in confidently achieving their growth goals with our expertise in internal audit and assurance services and industry-specific solutions. Thus, we offer a risk management, internal audit, and management consulting approach that not only mitigates risks and manages processes but also provides added value to companies.
Some of the values our methodology delivers for our clients include:
- Analyzing the effectiveness of the strategic planning process
- Reviewing the decision-making and accountability structure within the scope of authority and responsibilities, and identifying areas for organizational development
- Analyzing the success indicators (KPIs) of the company, departments, and employees
- Analyzing risk areas
- Questioning operational indicators in stores and warehouses
- Reviewing the management reporting set
- Competitive benchmarking across sectors
- Analyzing human resources in terms of Labor Law, Social Security Institution (SGK) regulations, and incentives
- Analyzing human resources in areas such as recruitment, performance appraisal, career planning, backup, bonus systems, document flow, OHS, software functionality, and corporate culture
- Analyzing the operation of management systems
- Analyzing data completeness and accuracy
- Analyzing the effectiveness of costs and the budget process
- Reviewing business continuity and disaster recovery plans
- Analyzing compliance with environmental risks
Bu gönderi şu adreste de mevcuttur: Türkçe
