Internal Audit
RISK ADVISORY
Internal Audit
Delivering Assurance for Stakeholder Confidence and Strategic Insights of the business
An effective internal audit function goes beyond compliance. It provides valuable insights into operational efficiency and strategic risks. It has become extremely vital for the survival of organizations to maintain a balance between regulatory compliance, governance, risk-management and operations.
Key Offerings:
- Risk-Based Audits: Focus on areas of high impact and criticality to the business.
- Process Reviews: Identify inefficiencies and improve operational controls.
- Technology Audits: Assess IT systems for vulnerabilities and compliance.
- Advisory Support: Providing advisory support for setting up or optimizing internal audit functions.
- Internal Audit Outsourcing and Co-sourcing Services: Our specialized team offers comprehensive solutions for managing your organization’s Internal Audit Function. Whether under the direction of the board, audit committee, or senior management, we assume full responsibility to ensure the seamless execution of internal audit activities.
- Establishing an Internal Audit Function: For organizations without an established Internal Audit Function or where existing practices fall short of management’s expectations, we provide a structured, professional approach to build and optimize this critical capability.
Methodology:
- Risk assessment to prioritize audit areas based on impact and likelihood.
- Detailed testing of controls and processes.
- Collaborative workshops with stakeholders to discuss findings and recommendations.
- Follow-up reviews to ensure implementation of agreed-upon actions.
- For outsourcing and co-sourcing, we develop tailored internal audit plans aligned with industry standards and best practices and implement them efficiently to meet organizational objectives. This approach delivers the expertise you need, reduces operational costs, and uncovers opportunities for process improvement and risk mitigation.
- For establishing an Internal Audit Function, our comprehensive support includes:
- Strategic Planning: Defining the Internal Audit Function’s role, scope, and positioning within the organization.
- Talent Acquisition and Development: Assisting with hiring suitable candidates, evaluating current staff, and providing tailored training to build a skilled internal audit team.
- Framework Development: Crafting Internal Audit charters, procedures, audit plans, and other essential documents.
- Knowledge Transfer: Collaborating with your team to perform internal audits, ensuring they gain practical skills and insights for sustained performance.
With our expertise, you can establish a robust Internal Audit Function that supports organizational growth and resilience
