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INTERNAL AUDIT

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We provide services for the complete outsourcing or co-sourcing of the internal audit function.  Our team of auditors includes financial, information technology (IT) and mining technical capabilities and we perform both financial and operational audits.

 

Typical audit areas covered by our teams include IT, payroll, revenue recognition, debtors, creditors, budgeting, expenditure control, capital expenditure, property maintenance, property rental, procurement, contracts, asset management, travelling expenses, inventory, corporate governance and human resources processes to mention a few.

 

We are experienced in performing a variety of technical audits for the mining industry including health & safety, environmental, ore & precious metals accounting, assay laboratory processes, stoping, vamping, sweeping, development, underground and surface transport, underground support, opencast mining, conveyances (legal compliance), shaft clearance procedures, metallurgical efficiencies, on-site (including mining) contractors, etc.

 

In the manufacturing industry we covered the following areas: safety, packaging, logistics, raw material, procurement, inventory and manufacturing processes, etc.

CONTRACT MANAGEMENT

CONSULTING

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Over time contract management has increasingly become an essential part of business due to the growing tendency to outsource both core business and support services.  However, contract management systems are often not geared to adequately deal with this issue. Hence, the need for specialised services to evaluate and introduce appropriate procurement and contract management procedures.

 

Due to our experience in this field we render a professional and value-added service.  Within Pro Optima we have personnel with extensive experience in evaluating and designing contract management systems for companies.

 

We have been instrumental in reducing contractors’ cost by more than one and half billion rand over the past two and a half decades.

INTERNAL

CONTROL

CONSULTING

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The cost of fraud and error is taking its toll on business.  Through implementing effective and efficient internal controls, business will be able to limit unnecessary financial leakage and will be in a better position to achieve its strategic objectives.

 

Pro Optima is skilled in evaluating the control environment in a business, and to assist in identifying areas requiring improvement where necessary.

Pro Optima was instrumental in stopping substantial financial leakage for our clients that was previously caused by control weaknesses and fraud.

ASSURANCE

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A study performed by the Institute of Internal Auditors (IIA) in 2013 revealed that many companies have several tiers in place to effectively manage risk within their organisations. When applying the Three Lines Model of the IIA (previously referred to as the Three Lines of Defense Model) to any company, it is clear that the first line is company management, who are responsible for implementing corrective actions to address process and control deficiencies on a daily basis. Whilst the third line would be a combination of internal audit work together with external audits performed at the organisation.

 

As a second line service provider, Pro Optima has established itself as an effective risk assurance function at many of its clients to help build and/or monitor the first line controls. The specific objectives of this combined assurance function have included the facilitation and monitoring of the implementation of effective risk management practices by operational management.

 

One such service includes the verification of on-site services contractors’ invoices on a continuous basis. Invoices are routed through Pro Optima’s offices situated at the clients’ premises for checking at five of the major mining companies in South Africa.  In some instances, contracts and contract amendment requests are also subjected to evaluation by Pro Optima before being finalised.

 

Similarly, we perform substantive verification testing of performance bonus calculations before being finalised. These tests have proven to be effective in preventing significant erroneous source data and calculations which previously went undetected.

STAFF ARE TRAINED TO BE ORIGINAL THINKERS, TO OPERATE IN EXCELLENCE AND TO BE ALERT TO OPPORTUNITIES TO ADD VALUE WITH EACH ASSIGNMENT

BUSINESS

PROCESS ANALYSIS (BPA)

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Pro Optima has performed several BPA projects for its clients.

Business process analysis serves the purpose to provide information about the current capabilities and performance levels of all processes within an organization, and it is the adaptability and constant evaluation of these practices that show the mark of a company that is always on top of their game.

 

Effective business process analysis can quantify the need for business process outsourcing and provide risk management solutions that a company requires. Without business process analysis, outdated and obsolete business practices prevail.

 

Pro Optima has developed an in-house business process analysis methodology that is adaptive to any client, providing detailed analysis reports that flag both issues and strengths discovered.

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