A plan nobody could deliver.
The insurer writes marine, aviation and energy risks across eleven countries. Its supervisor found the internal audit function had half the staff its plan required, and 180 agreed actions were overdue — some by more than two years.
- 180overdue audit actions
- 48%of the audit plan delivered
- 6auditors for an 11-country business
A new chief audit executive had joined three months earlier and inherited a plan, a backlog and a regulator expecting quarterly updates. Hiring alone would take a year, and the audit committee could not wait that long to show progress.
The committee asked for help that would close the gap quickly and leave a stronger in-house team behind, not a permanent dependence on outside auditors.
Co-source, rebuild, then step back.
Our auditors joined the in-house team under the chief audit executive's direction, with a planned handover agreed with the audit committee from day one.
- 01
Deliver the plan
We staffed 22 audits alongside the in-house team, focusing first on claims, reinsurance and underwriting authority.
- 02
Clear the backlog
We rebuilt action tracking, met every action owner and closed or re-agreed each of the 180 overdue actions.
- 03
Hand it back
We coached the new chief audit executive, helped hire eleven auditors and stepped back quarter by quarter.