CML engaged M2i for providing advisory services on two aspects of Internal Audit.
• Review of its Internal Audit: CML after starting to conduct independent Internal Audits with its own auditors. wanted to get its audit process reviewed and get advisory on further strengthening the internal audit scope, sampling, audit process and reporting.
• Branch audit gradings: CML wanted to implement branch grading process as one of the outcomes of Internal Audit. Each audited branch will be provided an audit grading. CML wanted advisory on developing branch grading tool and training its auditors in awarding branch gradings as part of the branch audit process.
The key activities that M2i undertook in the advsiory were:
• Reviewing audit reports • On-site visit to discuss with audit team on entire process
• Development of a branch grading tool
• Training audit team on branch audit gradings and providing initial support