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A global mining, oil and gas company acquired a competitor with natural resource holdings and legacy production units valued at more than US$12 billion. After the acquisition, the company’s internal audit function discovered serious issues in the newly acquired company’s inventory and warehouse management processes. In addition, internal audit determined that the acquired company’s legacy units had minimal formalized procedures for processing invoices and financial reporting.
The company called on Protiviti to redesign the company’s accounts payable (AP) and materials management (MM) functions.