Internal audit & risk assurance
Outsourced and co-sourced internal audit, control reviews and risk assessment, conducted to International Internal Audit Standards and reporting to your board or audit committee.
Internal audit answers to the board, not to the balance sheet. Its question is not whether the accounts are fairly stated at a date, but whether the controls that produce them work all year.
We conduct internal audit engagements to International Internal Audit Standards, either as an outsourced function for organizations with no internal audit department, or alongside an existing one where extra capacity or independent specialist testing is needed.
The work typically covers a risk assessment to decide where internal audit effort should go; testing of the controls over receipts, payments, procurement, payroll, stock and fixed assets; verification that policies and financial regulations are actually being followed; investigation of specific concerns referred by management or the board; and follow-up on whether previous recommendations were implemented.
Reporting goes to the board or the audit committee on an agreed cycle, in a form that separates what was tested, what was found, what it exposes the organization to, and what should be done.
Because internal audit is not the statutory audit, we are careful about which of the two roles we hold for a given client, and we will say so plainly where taking both would compromise independence.
We conduct internal audit engagements to International Internal Audit Standards, either as an outsourced function for organizations with no internal audit department, or alongside an existing one where extra capacity or independent specialist testing is needed.
The work typically covers a risk assessment to decide where internal audit effort should go; testing of the controls over receipts, payments, procurement, payroll, stock and fixed assets; verification that policies and financial regulations are actually being followed; investigation of specific concerns referred by management or the board; and follow-up on whether previous recommendations were implemented.
Reporting goes to the board or the audit committee on an agreed cycle, in a form that separates what was tested, what was found, what it exposes the organization to, and what should be done.
Because internal audit is not the statutory audit, we are careful about which of the two roles we hold for a given client, and we will say so plainly where taking both would compromise independence.
