The Big Four firm will help the Ministry of Defense of Ukraine enhance its risk management and compliance system (conformity with internal or external requirements or standards). The Big Four refers to the four largest companies in the world providing auditing and consulting services.
The ministry has initiated a corresponding project with the support of the UK’s Special Defense Advisor programme, funded by the Government of the United Kingdom of Great Britain and Northern Ireland.
"We want to demonstrate to society and our partners the effectiveness of our three lines of defense in risk management. The Big Four firm has already analyzed the internal audit service of the ministry, which functions as the third line of defense. We are now starting the second phase, during which we will focus on enhancing the effectiveness of the first two lines of defense," said Stanislav Haider, Deputy Minister of Defense of Ukraine.
The Big Four firm will analyze:
- The risk management and compliance system,
- Whether risk management complies with international standards.
The recommendations provided will help eliminate identified "weak points," particularly by implementing best global practices, which will reduce the risk 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 strengthening trust from international partners," emphasized Stanislav Haider.
