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Internal Audit Transformation services
In Consulting
EY Internal Audit (IA) services can help internal audit functions build and maintain trust and assure business risks are managed effectively. We believe in forward-looking, technology-enabled IA transformation with equal focus on people, process and purpose for long-term value.
Your business challenge
Organizations face increasing opportunities and challenges from client expectations, technology advancements, changing market and regulatory landscapes. In this environment, internal audit plays an important role in helping leadership navigate a spectrum of business risks.
Following traditional audit approaches is increasingly difficult in providing adequate assurance coverage and relevant business insights to stakeholders. Audit executives are challenged to answer these questions:
- How can we provide higher value and reduced assurance costs, given the evolving business and technology landscape?
- How can we be proactive in identifying emerging risks and organizational capability blind spots?
- How can we provide value-adding actionable insights and answer questions that have not been addressed before?
- How do we define a vision for an IA function that leverages human business and subject-matter expertise and technology automation?
Solution benefits
Our services, supported by EY Virtual Internal Auditor (EY VIA), helps companies transform their internal audit function holistically (people, process and technology) to build and maintain trust. Beneficial outcomes include:
- Improved operational efficiencies and cost-effectiveness
- Deeper insights needed to build trust through transformation
- Stronger ability to manage business growth with confidence
Solution features and functionality
EY IA teams can help you continuously monitor organizational risks, controls and transactions and provide actionable insights to improve performance. Through collaborative teaming, managed services and transformative technologies, we help transform and align IA to support the business strategy and create value in a changing risk landscape. Our capabilities include:
- IA diagnostic services help stakeholders employ tech-based benchmarking, collaborative surveys and functional performance considerations to assess their IA function for further enhancement.
- IA transformation helps organizations bridge the gap between their current and future state maturity levels by strengthening and building the required digitally enabled IA capabilities.
- Industry and risk domain-focused IA co-source and managed services help IA deliver on its mandate to stakeholders by leveraging our digitally enabled solutions.
- Accelerated analytics-based controls testing managed services help organizations streamline the cost of controls testing and obtain increased risk and controls assurance coverage in line with relevant regulatory standards such as SOX404, J-SOX and others.
Why EY
EY teams have a mature IA service offering based on providing value to IA functions with global footprints. Our flexible, scalable services help organizations realize desired future state IA capabilities through better risk coverage and increased stakeholder value with cost-effective delivery.
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