Organizations are increasingly relying on Internal Audit (IA) to provide them with insights into diverse and emerging risks and create the foundation for trust. EY IA believes in technology-enabled IA transformation with equal focus on people, process and purpose.
What EY can do for you
We are a market leader in innovative and transformative internal audit (IA) and internal controls (IC) services that are tailored to respond to disruptive market forces and help your company translate uncertainty into confidence while accelerating performance.
Whatever your company’s size, sector, geography or maturity, our IA services are flexible and scalable to help you achieve your desired future state while balancing cost-effectiveness, better risk coverage and increased value.
What EY IA offer
IA transformation services range from performing strategic and tactical diagnostics to building a transformation road map that is focused on digitalization and increased value.
When working with EY clients, our focus is on supporting them through IA Disrupted by Design, an approach where we help companies transform internal audit holistically (people, process and technology) to build or maintain trust.
Further, through outsourcing, teaming or performing elements as a managed service, we help to provide new solutions that assist in aligning the IA function to the business strategy in a rapidly changing risk landscape.
EY global Internal Audit methodology features:
- Automation that provides a broader perspective on control effectiveness and risk
- Insights on emerging risks through an extensive subject matter resource network and innovative solutions
- Dynamic risk assessment and collaboration tools enhancing the risk identification and information gathering processes
- Industry/professional network and tools for real-time benchmarking and knowledge sharing
Let us help you build and maintain the IA and IC functions that embed trust and allow you to manage your business growth with confidence.
The IA outsourcing/co-sourcing service is designed to help stakeholders execute against their IA mandate and provide value to their business partners from a risk and controls perspective. With an approach based on the organization’s objectives and strategy, we can help the IA function achieve its vision and implement sustainable changes in how the IA function operates and interacts with the business.
We leverage digitally enabled solutions throughout our IA methodology to help our clients provide better insights on risk. Our professionals have experience with conducting high-impact audits of all aspects of the business and associated risks, including technology, operations, and emerging, reputational and financial risks. We also perform special IA reviews, including investigations and audit committee and executive management requests.
The IA diagnostic helps our clients assess their Internal Audit function objectively. It includes recommendations on how IA can better define its mandate, achieve its objectives, improve its efficiency and provide results in alignment with stakeholder expectations.
The assessment leverages technology to incorporate benchmarking, collaborative surveys and functional performance considerations to help our clients understand their purpose and create a vision for the future. As part of this assessment, we also help determine the IA function’s conformance with Institute of Internal Audit (IIA) Standards.
IA transformation services leverage a digital and purpose-driven approach to help companies develop a refreshed strategy, mandate and road map to their future-state vision. IA transformation is a series of initiatives, supported by technology, that help the IA function adapt to the changes occurring in its organization and environment. A transformed Internal Audit strategy will allow you to evolve and to meet the needs of the business — both today and tomorrow. We help our clients bridge the gap between focusing on the risks they are facing today and developing the processes they need to address future-state risks while engaging your people to collaborate on change.
We can help your IA function to provide:
- Improved strategic value and reporting to the board and key executive stakeholders
- Technology-enabled solutions
- Better alignment to the IA mandate
- Enhanced insights on risks (internal and external)
- Sector-related insights
- Expanded risk coverage
- Cost efficiencies to the business
We help management streamline and improve its internal control environment and leverage technology to save effort while obtaining optimal risk coverage. In addition, we help companies perform internal control over financial reporting (ICFR) testing on behalf of management against relevant regulatory standards, including Sarbanes-Oxley Section 404 (SOX 404), Japan’s Financial Instruments and Exchange Law (known as J-SOX), and others.