Internal Audit 2020

Tender description

The existing contract term for internal audit services is due to expire on 31st March 2020 and the Audit Committee is now seeking to tender these services for a period of three years, covering the 2020-21, 2021-22 and 2022-23 financial years. Company Background The principal activity of CCDG is to provide careers information, advice and guidance service (including placement into employment, training and education for young people) and the facilitation of education business links. The principal risks identified by the Directors are as follows: Financial Risks - Fraud - Claw back/ceasing of European Funds - Reduced budget Failure of critical suppliers/distributors or others - Cancellation of lease - Utilities failure - Computer system failure Staffing - Recruitment problems in key areas - Long term absence Operational Risks - Failure to achieve key business targets - Breach of Health & Safety regulations - Adverse publicity/reputation Government Policy Charges - Making the Connections - Loss of contracts - Structural changes The above risks form the basis of the company's Risk Register which identifies potential risks arising from the operation of the company. These risks are prioritised within a Risk Matrix and provided with a risk profile according to the impact and likelihood of the risk occurring. The company prepares a list of the preventative measures for each of the risks identified, as well as the contingency measures to reduce the consequences of an incident to a lower risk level and to facilitate recovery in the event of any crisis arising. These measures and controls are incorporated into a Risk Management Strategy.