Organisations and businesses rightly face intense scrutiny of their corporate governance. They must be able to demonstrate that their corporate responsibility and their approach to risk management are robust and transparent. These responsibilities are made more onerous by the changing regulatory environment and the fast evolving nature of the risks they face. Management teams and boards cannot afford to be reactive or allow risks to go unmonitored and unmitigated.
Internal Audit has always been one of the cornerstones of good governance.
Internal Audit is key to the management and mitigation of risk. It provides assurance over your most fundamental internal controls, by helping to detect and prevent fraud, and by monitoring compliance with organisational policy, corporate governance codes, regulation and legislation.
How we can help you with Internal Audit
For large and small organisations alike, we design and operate tailored internal audit functions – from conducting a thorough assessment of risk across the organisation to designing strategic internal audit programmes. We work with your management to identify issues, implement tailored solutions and put the most appropriate controls in place.
Regardless of your industry – or whether an internal audit department already exists – we create a framework individually suited to meet your organisation’s needs, working in partnership with you to create the right internal audit solution.
Our services include;
- Internal Audit Partnering – outsourcing or co-sourcing
- External Quality Assurance (EQA) Review
- Audit Committee Advisory
- IT Internal Audit
- Continuous Auditing Monitoring
- Data analytics
Internal Audit and Technology
Advances in technology are changing business models and disrupting entire industries. Technology is improving productivity and driving innovation.
In technological terms, our assistance to internal auditing can be at two levels: (i) carrying out internal audits using technology (CAAT – Computer Assisted Audit Tools and Techniques), instead of other more time-consuming and less comprehensive techniques and (ii) addressing technological and cybersecurity risk.
Organisations must draw on expertise to ensure the right technology risks are identified and related controls assessed, including cyber security, changing data privacy agenda, growing technology resilience dependencies, challenges with implementation of digitalisation across the business. The risks associated with such solutions are significant, and if not addressed can result in severe impacts on operations with associated adverse reputational impacts, costs, and in some instances, regulator intervention.