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HEC-Ecole de gestion de l'ULg
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Modelling, risk analysis and proposal of internal controls over the main processes at Mithra

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Filon, Manon ULg
Promotor(s) : Van Caillie, Didier ULg
Date of defense : 22-Jun-2017 • Permalink : http://hdl.handle.net/2268.2/2678
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Title : Modelling, risk analysis and proposal of internal controls over the main processes at Mithra
Author : Filon, Manon ULg
Date of defense  : 22-Jun-2017
Advisor(s) : Van Caillie, Didier ULg
Committee's member(s) : Clotuche, Florence ULg
Kamto Kenmogne, Marius ULg
Marechal, Christophe 
Language : English
Keywords : [en] Mithra, process, risk, actionnee, manager, owner, frequency, gravity, control
Discipline(s) : Business & economic sciences > Finance
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en ingénieur de gestion, à finalité spécialisée en Performance Management and Control
Faculty: Master thesis of the HEC-Ecole de gestion de l'ULg

Abstract

[en] Due to continuous growth, to the complexity brought by the development of its own branded products as well as three complex generics, to a stricter regulation because of the IPO as well as to a higher risk profile, the internal structure has faced some problems. Therefore, to support the objectives of the enterprise that wishes to keep growing worldwide in the future, an analysis of the current internal situation was needed. In this context, the present project thesis aims at identifying those remaining internal weak spots and solving them. Therefore the project consists of describing the 5 main processes of the company; namely payroll, purchases, sales, inventory and treasury. Afterwards, an internal risk analysis on those processes will be carried out. This analysis will highlight the most significant risk. Finally, a risk register and a plan of action will be drawn up to reduce the risk exposure of Mithra.
The first chapter aims at giving an overview of Mithra and the actual challenges the company is facing. The methodology followed over this project thesis and the theory needed to perform the analysis is also in this chapter.
The second chapter covers the 5 main processes of the company, namely the payroll, purchases, sales, inventory and finance. Each process was decomposed in further categories and a summary of how each sub-category works is provided. A flowchart and narrative chart is in appendix to have the complete analysis. This chapter also comprises a risk and control analysis over the different categories. The risk analysis was carried out with the reference book of Chapman over ERM and one of the deliverable of the risk analysis was the risk register that is provided in appendix. Therefore, the AS-IS situation is explained as well as the TO-BE. This latter was built thanks to a literature review over best practices. At the end of every process analysis, there is a continuous improvement section to help Mithra to maximize the added value of its processes. This chapter only presents what is specific to each process.On the contrary, the third chapter explains the common areas of risks that Mithra is facing. A risk and control analysis is also provided
Finally, the discussion gathers my recommendations to help Mithra to improve its internal structure and grow in the future like they wish to grow.


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  • Filon, Manon ULg Université de Liège > Master ingé. gest., à fin.

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