Case Study: an energy and industrial gas equipment manufacturer strengthens internal audit and SOx compliance with Clearsulting

Energy and Industrial Gas Equipment Manufacturer reduces external audit cost with Clearsulting

The energy and industrial gas equipment manufacturer faced significant challenges as it lacked an internal audit department, leaving it unable to perform SOx controls testing, fraud risk assessments, or support its external audit. Additional issues included an unfilled audit director role, unremediated material weaknesses, and little structure for integrating an international business. Clearsulting was engaged to provide business process and IT audit outsource services.

Acting as the de facto internal audit department, Clearsulting managed documentation, investigated exceptions, and established remediation plans. The team also created a fraud risk assessment template, guided the remediation of prior year deficiencies, and conducted operational audits. This collaboration resulted in increased reliance on internal work that reduced external audit costs, the identification of process improvement opportunities, and streamlined testing with enhanced documentation. Clearsulting's work also sustained relationships across all business stakeholders.