Our client, a leader in the oil and gas industry, engaged PPT to focus on the support of the corporate audit team in the investigation of specifically identified district inventory losses (which may include site visits to certain locations), to identify and summarize root cause of inventory losses as well as proposed action plans for Management.
- Support the audit team in the development of audit methods and procedures to evaluate inventory controls at the district level to prevent propane inventory losses.
- Support the development of propane inventory flow analysis for selected districts
- Utilizing the results of inventory analytics, support the development of a knowledge base to be used in the development of internal audit methods and procedures to identify process non-conformance and required corrective action.
ACCOMPLISHMENTS / BENEFITS
- Developed analytics “Playbook” to be used by Internal Audit to aid in the identification of propane losses utilizing information from SAP, PeopleSoft and FAST.
- Performed analysis to identify propane losses for selected districts in support of action plans to management
- Identified SAP month end propane inventory reporting issues that require corrective action
- Identified specific information short comings that are a barrier to the identification of the root cause of physical propane inventory losses.