Internal Audit, including Financial, IT and Operational Audit Support

 

The definition of Internal Auditing, as per The Institute of Internal Auditors is as follows:

"Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.”

To overcome common challenges of the internal audit function, ranging from staff turnover to a lack of specialized skills, we offer internal audit co-sourcing for your resource enhancement or access to our specialized staff on an as-needed basis. You may also opt for our full-time outsourcing, depending on your needs.

For co-sourcing, our internal auditing associates can provide organizations with all the technical expertise they require, without the need for hiring full-time staff.  We can fill in for any temporary internal audit staff shortage or provide specialized internal audit professionals as you may require.

Our full-time internal audit outsourcing associates can assist your organization meets its internal audit requirements. Your organization may prefer us to meet all your internal audit needs under a continuous, full-service outsourcing arrangement. Under this arrangement, we will report to the audit committee along with your designated officer in order to maintain objectivity and independence.

We can help improve your internal audit function by introducing risk-based process audit techniques, training, and tools. We can also conduct an internal audit quality assessment to benchmark your function against leading practices or the Institute of Internal Auditors (IIA) standards. If you are establishing a new internal audit function, we can:

 

  1. Develop a mission and charter

  2. Create a risk-based audit plan

  3. Identify risks and controls over the key operational and financial cycles and develop risk-based audit procedures

  4. Assess your staffing options

  5. Select the appropriate methodologies and technologies to meet your audit and business objectives