The operational error in the client’s payments programme raised the risk of
We used a team of 62 consulting and assurance professionals in nine locations around the world, who worked together to review the entire estate, quickly assessing risk and addressing gaps. The review identified more than 50 critical gaps, as well as over 2,000 others that needed attention.
Using PwC’s payment controls standard – which contains 274 payment-specific operational and regulatory controls – we worked with the client to roll out our on-site assessment tools across the globe.
Nine assessment teams worked in parallel, sending in assessors to the client’s locations in
The immediate review of payment-related controls greatly reduced the risk of payment incidents and the potential for a substantial loss. We were able to introduce a common understanding across the organisation of where the high-risk gaps were, and then strengthen the control environment in every location.
As well as greatly improving the client’s governance and controls and significantly reducing the risk of financial loss, we were able to build strong new relationships at a local level, helping with both local and centrally run remediation efforts.