TNT Express: Auditing 40 countries worldwide

Mazars was mandated by a leading international logistics provider to coordinate and perform statutory audits of local financial statements in 40 different countries.

Context

TNT Express is a leading international logistics company offering express and freight delivery services. TNT will make sure that the client’s documents, parcels and freight are delivered safely and on time through their door to door integrated air and road networks. TNT decided to appoint one audit firm to perform the statutory audits outside the group scope and manage the process at a central level in order to comply with local laws and regulations.

Challenge

Mazars' teams are faced with the daunting task of complying with local laws and regulations with respect to financial reporting and audits in 40 different countries. At the central level, the challenge is to ensure a quick, transparent and clear overview of status, issues and potential problems on the group level that arise during the audit process.

Solution

Mazars offers their unique worldwide partnership, which guarantees the strategic, operational and financial coherence of the organisation and allows all of its members to act consistently. Mazars The Netherlands coordinates the process and reports the status and results of all the local audits to TNT corporate management. The central coordination team issued audit instructions and set up a unique coordination portal which is used by local auditors, local management and the centrals teams of Mazars and TNT. This portal is available at all times and enables all users to share documents and obtain information on the progress of all audits underway.

 

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