US
Brief
Caterpillar Cargo is a logistics service provider to clients across the world and is a trusted logistics partner for many companies.
In the year 2019-2020, the company faced certain revenue leakages and instances of fraud. The management was confident about growth of the company. However, such poor internal controls were hampering overall spirit of the organization, spoiling work culture and above all resulting into financial loss.
Contribution
After associating with the company, Altobooks team has taken following steps:
Created an audit process roadmap
Since the company saw financial leakages and frauds, 100% checking and vouching was adopted. No sampling.
Audit report submission to the board and discussion with the board on findings
Suggestion pertaining to changes in internal controls and processes
Services
As of 2022, Caterpillar Cargo is growing their sales and is confident with their internal control systems. Altobooks is proud to be associated with Caterpillar Cargo as their audit partner and is providing following services.
Internal Audit
Risk Assessment
Internal Control Advice
