In today’s constantly changing business landscape, risk management is more important than ever. From mitigating the threat of hackers and data breaches to monitoring costs of new construction and maintaining internal controls ‒ managing and optimizing risk has never been so critical. It’s easy for senior management to get bogged down in day-to-day issues or fires that spring up and lose sight of the organization’s strategic goals and objectives.
The Brown Smith Wallace Advisory Team provides a range of internal audit, enterprise risk management, process improvement, information technology, internal control and compliance services, including Sarbanes-Oxley, SOX 404 and COSO framework compliance, to help our clients understand and proactively address business risks that are critical to their success.
Our team, which is one of the largest and most diverse risk groups in the Midwest, consists of professionals dedicated to providing risk-based advisory services. We work with public and private organizations of all sizes and industries.
If you would like to sleep a little easier, or prepare for an upcoming regulatory or external audit, the risk advisory services team at Brown Smith Wallace can develop a manageable solution to fit your needs. Contact Ted Flom to get started today.
We were extremely pleased with our enterprise information security risk assessment performed by Brown Smith Wallace. They identified several different areas that were at risk, and developed the foundation to increase control of our information security. As a result of their expertise, more than 30 policies were rewritten, consolidated or created.
Mike Abbene, V.P./CIO-Retired
Brown Smith Wallace assisted the Archdiocese of St. Louis with an internal audit assessment of guidelines and controls related to electronic financial transactions at parishes made through shared accounting. Their team identified gaps in existing internal control guidelines and made recommendations to improve controls related to electronic transactions, including invoice transmission and processing, electronic check signatures, electronic bank statement reviews, online payments and electronic document retention. The final reported demonstrated a thorough understanding of our organization and its processes. Ultimately, the project resulted in recommendations that make sense based on how we operate and should help tighten controls in the long run once implemented. The knowledge and insight from the Brown Smith Wallace team was valuable, and we are appreciative of their expertise and the final report we received.
Archdiocese of St. Louis
Katie Feise, Internal Audit
Brown Smith Wallace has been instrumental in helping Belden build its internal audit, enterprise risk management, and Sarbanes-Oxley programs. I really appreciate the level of partner involvement and thought leadership and the impact they have had on our company.
Jessica Herr, Director, Financial Planning – former
The City of Moberly requested Brown Smith Wallace conduct an analysis of the city’s water and sewer billings and collections. The objective was to ensure billings and collections, as reported by the city, were reasonable and controls were in place, adequate and operating effectively to ensure the accuracy and proper reporting of future water and sewer revenues. Their team performed detailed data analytic procedures on water and sewer billing records between over two years. The results included recommendations to improve our procedures and internal controls over water and sewer billings and collections. Their analysis identified several potential data anomalies. Due to the nature of the utility billing process, these anomalies need to be further researched to determine if billing inaccuracies exist. A significant initiative being led by city management is underway to correct the various items identified during this assessment and other related projects. We are grateful for the work Brown Smith Wallace has done and continues to do for the City of Moberly.
City of Moberly
Mary West, Director of Utilities
Brown Smith Wallace performed a fraud risk assessment for the City of St. Charles Parks and Recreation Department to identify potential occupational fraud risks within the financial and accounting processes, evaluate existing internal controls, and recommend the implementation of controls and processes designed to properly address those risks. As a result of that risk assessment, the firm identified opportunities to improve our internal controls and recommended ways to better prevent fraud in the future.
City of St. Charles Parks & Recreation Department
Maralee Britton, Director of Parks and Recreation
Brown Smith Wallace has assisted the Internal Audit Section of the City of St. Louis with various construction audit projects. These projects have focused on reviews of contracts, payment applications and change orders. These construction audits have improved internal controls within the city, and have subsequently helped save taxpayer dollars. We value the expertise and personalized service the Brown Smith Wallace team has provided us.
City of St. Louis, Internal Audit Section
Mohammad Adil, Audit Supervisor
J. F. Electric has been a client of Brown Smith Wallace for over 30 years and I can attest to the fact that they provide a measurable difference and have assisted our firm in many aspects of our business. Brown Smith Wallace provides our annual certified financial audits, monthly financial reviews with management, tax strategies and benefits analysis, business risk services, insurance and employee benefits analysis and recommendations, management consulting services as well as other valuable services. The management and support staff of Brown Smith Wallace that we have had the pleasure to have worked with over the past many years, have all been very knowledgeable and experienced in their field of expertise. They consistently exceed our expectations in every way.
J.F. Electric, Incorporated
Greg Fowler, P.E., President and CEO
Since 2011, Brown Smith Wallace has assisted the St. Louis Metropolitan Sewer District (the District) with performing its ongoing internal audit function, which includes procedures to monitor, review, and test the activities of a $4.7 billion system improvement initiative to improve water quality and alleviate wastewater concerns that were identified and addressed by the EPA through a Consent Decree that went into effect in April of 2012. Their team has provided significant expertise in the areas of construction auditing that include engagements addressing construction and design contracts, payment applications, change orders, overhead rates, and safety programs. Their firm's assistance and expertise has greatly helped the District improve and strengthen the processes and controls over this very large system construction and improvement initiative. These efforts have been very effective in assisting Management in their efforts to adequately protect the assets of the District, thereby protecting the interests of the District’s stakeholders, which is vitally important. Brown Smith Wallace is a valuable partner and expert in construction audit services, and the District greatly values the services they have provided.
St. Louis Metropolitan Sewer District
Todd Loretta, Internal Audit Administrator
As part of our strategic planning process and ongoing efforts to improve efficiency, effectiveness and service, St. Louis Public Library requested that Brown Smith Wallace assist with the implementation of a series of improvements to the Library’s core business services. Brown Smith Wallace assisted the Library with process improvement implementation and provided additional recommendations in investment policy, general internal controls, revenue process, ERP system, organizational structure and our accounts payable process. Their team continues to be a valued resource for us as we seek to improve how we operate and serve the public.
St. Louis Public Library
Justin Struttmann, Chief Operating Officer
Brown Smith Wallace has assisted St. Louis Public Schools by providing internal audit and other consulting services since 2016. To date, they have completed audits of student transportation, student activity accounts, purchasing and food service. These audits have provided the school district with key guidance to improve our internal controls, recommendations to strengthen controls over contractor compliance and monitoring, and the opportunity to potentially generate savings in the future.
St. Louis Public Schools
Ernest Clark, Director of Audit and Compliance
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