TimeTech Internal Control and Corporate Governance Diagnostic

Strategic-level simulation · From evidence layering and COSO diagnosis through to the three lines of defence, remediation retesting and whistleblowing governance

Level：Strategic Duration：about 120 min Points available：16 Agent roles：7

TimeTech is evaluating a phased partnership or deal with HealthCare — the acquisition is not yet complete, and neither the listing venue nor the governance rules have been settled. As Internal Audit Director Nora Patel, you must complete an internal control and corporate governance diagnostic within two months, rigorously distinguishing investigation exposure, sample risk, confirmed facts and budget awaiting approval, while holding the boundary between helping management improve and keeping the third line of defence independent.

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The question

The investigation exposure for the abnormal procurement payment is capped at US$500,000 and is not a confirmed loss; the revenue cut-off test sample carries US$1,000,000 of timing-error risk and is not confirmed revenue overstatement, fraud or a final financial-statement misstatement; the first-year remediation budget is capped at US$1,000,000 and annual maintenance is estimated at US$200,000, both awaiting board approval.

Company background

TimeTech Ltd. develops, manufactures and sells smart wearable devices and provides online health-management services. The company is evaluating a phased partnership, due diligence or deal with HealthCare and has not yet completed an acquisition.

Techniques

事实边界、COSO 与内控诊断公司治理、三道防线与内审独立采购、收入与日记账控制设计举报保护、调查公平与利益相关者取证、整改保证与董事会沟通

Who it suits

Recommended for learners who have already mastered the fundamentals of P3 internal control, risk governance and auditing and who wish to practise cross-departmental evidence-gathering, COSO diagnosis, the three lines of defence, remediation retesting, whistleblower protection and responding to board challenge.

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