Our Approach

Training

Good training will develop skills, perhaps solve a problem, improve effectiveness or efficiency or all of these things. We work with our clients to understand the objectives and the best solution to achieve these. Whilst sometimes you will benefit from a lecture with slides, at other times an interactive workshop might be more effective, or a mixture of both approaches might be needed. In all cases training can be delivered either virtually or face-to-face. We are flexible in our offering, so able to adapt to your requirements, rather than you having to adapt to our approach. 

Review of technical material

Technical audit, financial reporting and anti-money laundering material is usually complex and driven by numerous standards and regulations. It frequently pays to have such material reviewed by someone other than the person who has written it, as we all know how difficult it can be to review our own work. 

JS Penny Consulting can undertake the review of material for publication, policies and procedures for internal use, manuals, programmes and help-sheets, or similar material in our fields of expertise. 

ISQM

Now that the IAASB has issued ISQM 1 and 2, together with a revised version of ISA 220 the race is on to create an entire new set of risk-based policies and procedures. JS Penny Consulting can assist with this either by helping to create the necessary documentation, reviewing your own documentation, providing training or helping with aspects such as root cause analysis once the standards are implemented.

Root cause analysis

We are hearing more and more about root cause analysis (RCA) in the world of audit, but conducting an effective RCA internally might fill you with dread. RCA demands that difficult questions are asked of those involved in an audit to try to understand why things didn't go as desired or required. Asking these questions of your peers may be uncomfortable and be more likely to lead to less than open answers, after all, none of us likes to admit that we went wrong somewhere. 

We can provide an external perspective which can allow partners and staff to feel more at ease with the process, the purpose of which is not to blame, but understand how to improve. 

Technical opinions

If you are faced with a tricky audit, financial reporting or anti-money laundering query and need someone to consult with to help decide on the right approach then why not get in touch. We can give you an indication of the fee depending on the complexity of the issue. For guidance our minimum fee for technical opinions is £110 plus VAT.