Driving external value from the inside out.

Today’s senior executives and audit committees are using the internal audit process as a way to not just assess quality, but to drive value throughout the entire organization. TMO Consulting’s dedicated professionals serve our clients by bringing innovative approaches to help companies evaluate the effectiveness of their operational functions and processes.

For large and small businesses alike, we design appropriate internal audit functions – from conducting a thorough assessment of risk across the organization, to reporting findings to management, the board, and other stakeholders. We not only identify issues, but we work with management to address challenges and put the appropriate controls in place.

Regardless of a client’s industry – or whether an internal audit department already exists – TMO Consulting creates a framework individually suited to meet each company’s needs. We take a hands-on approach, and our partners are deeply involved in the work we do. With local resources backed by a global network of professionals that are available in over 160 countries around the world, our professionals assist our clients’ needs in the following areas:

• Internal audit outsourcing
• Internal audit co-sourcing
• Internal audit partnering
• Quality assurance review
• Process and internal controls advisory
• Audit committee advisory
• Continuous auditing and continuous monitoring
• Data analytics

Advances in technology are enabling changes in business models, improving productivity, and driving innovation. We help internal audit departments be proactive advisors to senior management, enable the board to stay at the forefront of these advancements, and advise on the emerging risks along the way.

Whether it is advanced analytics, robotic process automation, continuous auditing, or continuous monitoring, TMO Consulting provides services for our clients that we “right-size” for their needs.

Understanding evolving risks in a changing world.

The world is rapidly changing. And even though constantly evolving technologies bring plenty of benefits, they’re also creating a new set of risks that companies must face. TMO Consulting’s IT Risk Advisory team takes an innovative approach in their risk management methodologies to address these risks and help keep your company safe. Our experienced professionals understand these risks and keep up-to-date with the rapid pace of change in today’s world. Our services can help your organization accelerate their IT risk and compliance programs in the following ways:

• IT Internal Audit co-sourcing
• Cybersecurity Controls Assessment
• Integrated Risk Management (IRM) / Governance Risk and Compliance (GRC) services
• IT Sarbanes-Oxley compliance and remediation efforts

Sometimes, our clients know what areas they want us to focus on; in others, we start by performing a thorough investigation. In both cases, we provide tailored recommendations based on what we find, relying on decades of experience and insight. We also leverage the knowledge gained from continuous active involvement in the IT industry; our professionals regularly attend meetings and trainings with industry leaders to stay on top of the latest developments.

New endeavors demand new thinking.

From regulatory changes to increased enterprise risk, senior management and corporate directors face an array of complexities that they must navigate to drive success across the organization. TO Consulting’s Risk Advisory professionals work with our clients to define, execute, and monitor their risk management strategies and ensure they meet compliance requirements.

Our team has decades of experience developing structured, sustainable risk programs that account for an organization’s principles and risk appetite.

Our professionals draw on deep experience serving a wide range of industries. At the same time, our expansive international network allows us to incorporate country-specific knowledge, especially as it relates to rules and regulations. Together, these allow us to bring our clients a deeper, more concentrated level of knowledge and service, and provide options that are flexible, adaptable, and sustainable.

Enterprise Risk Management
Companies now find themselves encountering new corporate governance and financial reporting challenges which are causing them to view company-wide risk from a different perspective. These changes require both public and private companies to re-evaluate the possible risks that could threaten their viability or success.

That’s why Enterprise Risk Management (“ERM”) strategies and best practices are at the top of many corporate agendas. ERM is a general, ongoing operational assessment that identifies potential threats to a company’s ability to meet strategic goals and objectives. Continuous in nature, ERM helps provide an organization with the flags and markers it needs to maximize success and minimize risk.

Cutting through volume and complexity.

TMO Consulting’s Contract Compliance services are designed to serve virtually any company that engages vendors, suppliers, franchisees, and licensees through contractual agreements. Our dedicated professionals are well-versed in the interpretation and analysis of contract provisions, with credentials based on broad industry knowledge and experience. We speak the language unique to certain sectors, including oil and gas, financial services, the motion picture industry, television, video, licensed merchandise, music, software, construction, and franchising.

TMO Consulting offers the following services to meet the specific needs of our clients:

• Vendor audits (Large scale programs and individual audits)
• Royalty examinations
• Franchise audits
• Examinations of revenue-sharing arrangements
• Construction audits
• Joint Interest audits
• Merchandise licensing examinations
• Pre-execution contract review

Using a collaborative approach, our team offers insight into the applicable provisions of the underlying contracts, identifying vital documentation during all of our contract compliance engagements. We tailor our services to the specifics of each contract and the individual situation of each of the contracted parties, collaborating effectively and efficiently to add value for our clients.

We comb through the details to identify instances when clients have overpaid – typically recovering funds that are at least 2-3% of the contract’s total value – and hold contractual parties accountable when they fail to meet performance requirements. In cases where contracts present enormous volume and complexity, our professionals leverage deep experience and broad resources in data analytics. In many cases, our teams are able to automate the process in order to find the required information quickly and efficiently.

Establishing the right controls, at the right cost.

At TMO Consulting, we help our clients challenge the status quo. Rather than simply relying on “last year’s approach,” our team of talented professionals help companies simplify – and strengthen – their processes and controls to be efficient and effective, while focusing on the risks that matter to them most.

We start by assessing our clients’ internal controls with a systematic, consistent approach, customized to their unique company and industry. By understanding their needs, we’re better able to identify gaps and recognize risk while finding opportunities for control improvement and optimization. Our process includes:

• Identifying the existing controls universe and quantification of the costs, process impact, and reliability associated with the operation and validation of those controls
• Highlighting existing controls that mitigate and manage key risks, looking to leverage higher level and system controls; eliminating redundant, inefficient, or ineffective controls
• Redesigning, automating, or implementing new controls to increase efficiency and effectiveness
• Collaborating with external auditors to ensure recommendations for all control changes are agreed upon to ensure financial risks remain fully addressed and managed
• Designing and implementing an oversight and reporting structure to monitor control effectiveness

Not just compliance. Synergy.

The enactment of the Sarbanes-Oxley Act dramatically changed the financial reporting landscape. Since then, TMO Consulting has helped our clients come up with innovative ways to generate value while maintaining compliance. Far from simply meeting the minimum standard, we help them improve their internal control over financial reporting processes and create synergies across their entire organization.

TMO Consulting’s Risk Advisory professionals have years of experience advising clients on the best ways to design systems that will not only meet compliance, but will improve business processes as well.

We know that companies can be overwhelmed by trying to meet complex Sarbanes-Oxley (“SOX”) requirements, and our professionals help guide them using our deep experience in a variety of industries. TMO Consulting helps many clients, including large public companies, those preparing for an initial public offering, and private companies that wish to establish rigorous SOX-like internal controls. We never stop thinking about what future issues might arise, and thus create systems to monitor the effectiveness of internal controls, identify deficiencies, and provide guidance on how to right-size the compliance process to meet current requirements. We also assist many clients with J-SOX and other regulatory requirements.

Our professionals recognize the cost of maintaining compliance, and make every effort to help companies establish a model that works best for them by allocating resources appropriately. And by utilizing the resources of our expansive international network, we serve clients wherever they do business, and wherever they have needs.