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WGW SM@RT Audit
The Internal Audit service for the challenges of today and tomorrow
With the increasing pressures on the global economy, brought about by the public health restrictions of the past two-and-a-half years and the current geopolitical situation, the expectations of an internal audit services within the public sector in England and Wales is changing inexorably. Regulatory bodies, clients, stakeholders expect greater transparency and members of the general public are demanding greater value for their tax pounds.
However, traditional, labour intensive audit methods no longer meet the ever increasing pace of government and commerce, and create a massive carbon footprint.
WGW SMART Audit is a cloud based internal audit service which utilises workflow audit tools to provide individually tailored internal audit programmes for small to medium sized third sector organisations including Town, Parish, Community Councils and Charities in England and Wales. Our unique audit service provides the facility to:
- Uniquely identify and time-stamp all files provided for audit purposes.
- Eradicate the need to review or retain paper files.
- Provide a transparent audit-trail of all interactions between the auditor and client.
- Identify all Internal Control risks and Regulatory Compliance anomalies.
- Ensure that complete and verified documentation in support of the audit process is maintained, available on a read only basis by the client, for review.
- Eradicate incomplete or inadequate internal audit processes.
- Facilitate comparative analysis, using anonymised data, to review the performance of councils within a like-for-like peer group.
- Reduce the carbon footprint of the Internal Audit process using the remote service.
WGW SMART Audit clients are provided with a secure portal and audit dashboard which allows them to upload all required audit documentation and to view each stage of the audit process as it progresses from initial documentation upload to the detailed internal audit report being issued.
WGW SMART Audit services uses workflow processes which are compliant with the statutory internal Audit requirements for government organisations, town, parish and community councils and charities in England and Wales.
Key features
Secure client portal
Real-time audit visibility
Real-time audit visibility
All our clients are given their own secure portal on our cloud based system, where designated members can log on, upload and review the files which have been retained for audit.
Once a file has been retained for audit, the client has "Read Only" access to this data, which is uniquely identified.
Real-time audit visibility
Real-time audit visibility
Real-time audit visibility
Each client has a dedicated control panel which records the status of the audit and allows the user review the progress of the audit or communicate with us directly using our messaging system.
Users may also review requests for further information in this secure environment.
Remote paperless audit
Real-time audit visibility
Detailed Internal Audit report
We work with our clients to customise the standard Internal Audit Programme for their sector, developing the templates which are used to accurately reflect the scope and scale of their unique operations, and which may be used to conduct comparative analysis of their operations against those of other similar entities.
The Internal Audit Programme Templates meet not only the statutory requirements of the internal audit process for public sector bodies in England and Wales but also the additional requirements of the Client.
Detailed Internal Audit report
Accounting software integration
Detailed Internal Audit report
In addition to the statutory governance documents being completed and duly authorised, WGW prepares a detailed Internal Audit Report which corresponds directly to the internal control objectives of each section of the appropriate governance document.
The detailed Internal Audit Report communicates the results of the audit, clearly and concisely, delivering the audit findings to provide assurance that financial statements have been prepared, in all material respects, in accordance with the applicable financial reporting framework, to aid governance, enhance risk management and prompt improvements.
The report corresponds to the Internal Control Objectives of the Annual Governance and Accountability Return (AGAR) in England, and Annual Return (AR) in Wales.
Data evolution
Accounting software integration
Accounting software integration
Although every audit covers a fixed period in time, the data continues to evolve over the life of the organisation being audited.
Our unique template driven Internal Process allows critical data and information to be rolled forward to the next audit period. This includes:
- Organisation profile
- Year end audit imprint
- Internal Controls profile
- Risk profile
- Treasury profile
- Comparative Analysis
Accounting software integration
Accounting software integration
Accounting software integration
There are a number of dedicated software accounting packages for Town, Parish and Community Councils in England and Wales.
We are able to upload key information, for example the working trial balance and year end reporting data for Town, Parish and Community Council's Annual Governance and Accountability Return (AGAR) in England, and Annual Return (AR) in Wales, via our bespoke templates.
Packages supported include: