Undeniably, past economic crises and the current COVID-19 pandemic have forced companies to rethink and dramatically change the way they do business protecting their employees and supporting their social responsibility to society and partners.
Benefits of virtual managementThere are several reasons as to why a remote audit can be a better alternative:
- Time and cost efficiency
- Dispensing with physical presence of an auditor on the company’s premises
- Heightened efficiency of the audit team
The exchange of documents among MOORE ST’s employees follows applicable global and local confidentiality and data privacy regulations. If, in some instances, legislation prohibits the sharing of certain material data outside the subject of ongoing audit, the scope of the audit can be adjusted based on risk analysis to ensure the business continuity and, if necessary, additional assessments can be scheduled to complete the assessment of assured quality.
Client communication with questions and inquiries is available via chat, e-mail, telephone, or online web conferences.
Undoubtedly, the on-site auditing has obvious advantages where the auditor can study processes in real time, conduct a physical tour of the facility, observe visual cues and non-verbal communication with the audited firm. However, the COVID-19 crisis has forced companies to adapt and use alternative solutions. Virtual / remote auditing procedure proves to be a great new solution to ensure business continuity and ensure that key suppliers continue to function as an extension of your firm.
MOORE ST can help you create and maintain a successful risk-based management program by using effective tools such as virtual/remote audit to facilitate business continuity requirements and enable continued research.
- Financial outsourcing
- Accounting & outsourcing of Cyprus companies
- HR accounting
- Outsourcing of internal audit
- Virtual management
- Legal support
- IPO support
- Transaction services
- International arbitration
- Economic security
- Risk management
- Personal Data protection & GDPR
- Tax monitoring
- Transfer pricing
- Due diligence
Director of Business Support Services
- Tel: +7 495 589 3498
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