Developing an Internal Audit Process for Global Trade Compliance Team of a Manufacturing Company

Abstract

The objective of this study was to develop and implement an internal auditing process for the Global Trade Compliance Team at Company ABC. The auditing process had been contracted to an external auditing company. Company ABC was incurring high operational costs and the auditing results were not meeting the company’s expectations. Results of implementation of the recommendations after the audits were conducted were negligible. The expected improvements in the operational processes were not being achieved. This study applied the six sigma methodology define-measure-analyze-improve-control (DMAIC) for developing and implementing the new internal audit process. The results of the study reflected the improvements and benefits of applying six sigma methodology for developing Company ABC’s internal audit operational process.