Bundling your Compliance Needs
At A-LIGN we continue to develop our service offerings to better meet our clients needs. If you are required to comply with multiple compliance standards we are able to offer bundled engagements that take advantage of the overlap between the various regulatory and compliance standards. We provide our clients with the ability to deal with one audit firm for all of their compliance needs. This process can reduce the overall impact of the audit to your organization while reducing the engagement fees.
Our approach of bundling engagements takes advantage of the overlap in the required controls in the published standards. Most compliance initiatives focus on mitigating similar risks, even though the data they are designed to protect or the audience for the report may be different. By leveraging this overlap during the audit process we can conduct one interview with personnel or gather one piece of evidence and use it to meet multiple requirements. Having an auditor, who can offer this type of audit, significantly reduces the impact of the audit on their clients.
In addition to reducing the impact of the audit on our clients, this approach also allows us to reduce our audit fees as well. By conducting one interview and reviewing the same evidence for multiple compliance standards we are able to perform the audit in less time. We pass these savings on to our clients in the way of a reduced fee structure. We are able to show the incremental fees associated with adding each additional compliance standard, which is less than performing each audit on its own.
There is a cost to maintaining compliance with the various standards in the market place, but having the ability to work with our clients to reduce the impact and cost of the audit process is what makes our company different from other service providers. If you would like to discuss ways to reduce your overall audit cost by bundling engagements please feel free to contact me at your convenience.