Case studies

Building Leadership and Bench Strength
Steps
Description
Situation Summary
Client Profile: US Audit and Assurance Team of a physician-founded health insurance company

The Vice President of Audit and Assurance wanted to build the management team’s bench strength.
Solution
During a series of working sessions that TWPP designed and facilitated, the team:
  • Applied TWPP mental models and techniques to actual work situations
  • Discussed progress and ways to overcome actual on-the-job challenges
  • Experimented with ways to influence executives and other constituents about risk management practices
Measure of Success
Reduced time in meetings with business management when discussing control gaps, design flaws, and execution errors
Reduced Audit Cycle Time Without Increasing Audit Risk
Steps
Description
Situation Summary
Client Profile: 35-person audit department of a €21 billion, Europe-domiciled food retailer

As a result of a major merger, the CAE and Professional Practices team needed to create a new, streamlined audit methodology for a global audit team.
Solution
  • Leveraged TWPP industry knowledge and experience to identify opportunities for efficiency in the practices used by each of the merged audit departments
  • Introduced new approaches and templates and time-tested TWPP mental models
  • Collaborated with the Professional Practices team to document the new methodology
  • Designed and delivered interactive, case-based training to all team members
    • Provided post-training support to the managers to reinforce the techniques’ use
Measure of Success
  • Reduced audit cycle time from 24 weeks to 8 weeks
  • Increased number of audits and reviews completed within budget
Increased Recognition of Auditors as Value Creators
Steps
Description
Situation Summary
Client Profile: US $2.1 billion credit union

The Vice President of Internal Audit wanted a staffing analysis, a sounding board, and a source of leading audit practices.
Solution
  • Assessed staff competency in using risk-based auditing techniques and recommended development plans
  • Designed and facilitated a series of working sessions that enabled the team to apply TWPP mental models and techniques to audits-in-progress and receive real-time feedback on their work
Measure of Success
  • Increased number of findings that identified new or emerging risks in established processes
  • Positive feedback from executives and process owners concerning these findings
Steps
Description
Situation Summary
Client Profile: Investment and Insurance Company with $70 billion AUM

The Audit Leadership team wanted to provide its new hires and less experienced auditors with approaches that would set the right tone for all auditee interaction in a work-from-home environment.
Solution
Designed and delivered coaching and training that enable the auditors to:
  • Succinctly communicate audit status, exceptions, and issues to business management with the right amount of detail and tone
  • Increase collaboration with process, risk, and control owners and their team members by running focused huddles and other meetings
  • Use huddle meeting time effectively
  • Create confidence in the process, risk, and control owners and establish a foundation for a trusted advisor relationship
Measure of Success
  • Increased number of audit milestones achieved during the two-week sprints
  • Decreased audit manager involvement in routine discussions between the staff auditor and the process or control owner concerning control design, test results, and audit issues
  • Increased number of clients opting for the Agile audit approach (instead of traditional waterfall, risk-based auditing) because of clearly perceived benefit despite more client involvement in Agile process
  • Increased number of positive Post Audit Evaluations
  • Increased number of clients who recommend Agile audits to future clients
  • Increased auditor confidence when speaking with process, risk and control owners