Assurance, Risk & Governance Services - Rest Assured
Rest easy with Pacifica. We have a proven and practical approach to Assurance, Risk and Governance Services - one that is tailored to your specific needs and operations; no matter how diverse. Our comprehensive, integrated and risk-based approach allows our clients to confidently implement strategies knowing that their organisation's key business objectives, risks and controls have been robustly examined, analysed and improved.
To find out more, simply click on one of our services below:
Pacifica Internal Audits do not just review your current business practices, they identify a tangible, effective and profitable plan for the future. For more than 25 years we have provided audit services and developed strategies for a broad cross section of industries including large NFPs, Agri-business, Health, Local Government, State Government, Statutory Entities like Government-Owned-Corporations, and more recently private sector entities. Our reputation is based on the integrity and professionalism of our work, and the results we provide to our clients. Each specialist member of our audit and assurance team is dedicated to delivering the best possible results for you and your organisation.
We generate positive outcomes for our clients, and are renowned for prompting and respectfully challenging existing business practices for the betterment of the organisations we work with; a demonstration of our independence and objectivity of our services. Internal Audit projects successfully completed for clients in the past include:
- Fraud & Ethical Conduct Reviews
- Risk Management function and framework
- Water Management Practices
- Asset Management & Asset Accounting Review
- Project Management Practices
- Customer Request Management & Corporate Compliance Culture
- Accounts Receivable & Debtor Management Practices
- Payment Card Industry Data Security Reviews
- Building & Facilities Management Projects
- Environment Management Systems
- Cash Handling Practices
- Property & Leasing Management
- Tender Evaluation, Contract Management & Procurement Reviews
- Implementation of Organisational Decisions
- Review of Grants & Subsidies application & acquittal processes
- Recoverable Works for externally sourced revenue
- Stores & Inventory Management
- Debtor Management
- Works Program Budget development (Capital & Maintenance budgets)
- Job Costing Practices including recoverable works and contractor arrangements
- Information Security Management
- Human Resources – Selection & Exit procedures
- Airport Management
- Revenue Assurance
- Regulatory Management System Reviews
Due in no small part to our extensive experience in establishing first-time Internal Audit functions for our clients, we specialise in assisting management and Audit Committees.
We encourage our experience to be examined in order to assess our capability and have always been found to be high quality and consequently have successfully established first-time Internal Audit functions for several clients. The areas assessed was our technical and professional capability to perform:
- Internal audit services
- Risk management services
- Risk analysis
- Financial analysis
- Probity and investigation services
- Governance services
- Procedure and workflow assistance
- Data analytics over financial or operational areas
Fraud Prevention & Detection
The 2016 Association of Certified Fraud Examiners, Report to the Nations on Occupational Fraud and Abuse, indicated that organisations typically lose an estimated 5% of their annual revenue to fraud.
Fraud and corruption control in the government sector has recently received renewed focus from the Queensland Auditor-General. The Queensland Audit Office (QAO) Fraud Management in Local Government Report, raised concerns regarding the awareness, effectiveness and responsiveness of Councils in implementing fraud and corruption prevention and detection strategies. Equally, the management of these risks as well as the overarching reputational risk were also flagged as areas of concern. The QAO has advocated that the findings in this report apply equally to other sector entities also. So really, can your organisation afford not to invest in managing these risks?
As highly regarded specialists, in Fraud Prevention & Detection our professional team at Pacifica methodically engage in a 3-phased approach for consideration by management and the Board:
- Module 1 – Fraud, Corruption & Ethical Culture Assessment.
- Module 2 – Fraud Awareness Training.
- Module 3 – Internal Control Assessment with an Internal Fraud and External Scam threat focus.
Risk Management Services
The high profile organisations we work with are often in the "public eye", consequently they require the highest standard of auditing and risk management available – and that's where Pacifica delivers.
In order to provide you with the Internal Audit services you require, our Internal Audit plans are designed specifically for you and your entity, taking into consideration specific Strategic Risks that are unique to your situation and the effectiveness of controls you have in place. This ensures our Internal Audit Plans align with your organisation's business risks, whilst addressing your high priority initiatives.
Forensic & Data Analytics
The science of data analytics involves the detailed analysis of raw data in order to draw conclusions pertinent to your business – and we are considered experts in the field. Our vast experience across a broad range of circumstances, helps identify underlying "custom and practice" within certain business functions to avoid key internal control points. Just some of the focus areas our data analytics activities include are:
- Payroll functionality, accuracy and corruptibility
- Procurement activities including segregation of duties
- Vendor Masterfile reviews
- Financial and Non-Financial Delegations of Authority
- Time sheeting and approvals
- Asset utilization
- Unit rate and Job Costing analytics
- Stores & Inventory Management