Big Four Auditor to Help Ministry of Defense Eliminate 'Weak Spots' in Risk Management.

The Ministry of Defense of Ukraine has engaged a Big Four company to improve its risk management system and compliance with requirements. This was announced by the Ministry of Defense.

The Big Four is the four largest companies in the world specializing in auditing and consulting services.

The Ministry of Defense is supported by the programs of the Special Advisor on Defense matters from the United Kingdom, funded by the governments of the United Kingdom and Northern Ireland.

We want to demonstrate to the public and partners the effectiveness of our three lines of defense in risk management. A Big Four company has already analyzed the internal audit service of the department, which functions as the third line of defense. Now we are starting the second stage, during which we will focus on improving the effectiveness of the first two lines of defense.

The Big Four company will analyze the risk management and compliance system, as well as verify whether risk management complies with international standards.

The recommendations provided by the company will help eliminate identified 'weak spots' by implementing the best global practices. This will help reduce the risks of violations and improve compliance monitoring.

“This will contribute to increased transparency and accountability in the management processes of the Ministry of Defense, as well as strengthen the trust of international partners,” said Deputy Minister of Defense of Ukraine Stanislav Haider.