Internal Audit services
Helping organisations to provide effective and efficient risk assurance in a world where disruption is now the ‘norm’
Disruption and the pace of change are having a fundamental impact on the risks that organisations face and how those risks are governed. The implications for organisations cannot be underestimated, but internal audit faces a double impact – not only does it need to keep ahead of the risks faced when adapting to new disruptive realities, it also faces similar challenges to its own way of working.
Heads of internal audit have the opportunity to drive their own ‘digital agenda’, to enhance the way risks are assured and to become an internal audit function of the future. Existing capabilities can be augmented with new technologies which will allow for smaller, more agile teams, and can help ensure internal audit remains relevant not just for today, but for tomorrow as well.
As a leading provider of internal audit services, our multi-capability teams help organisations to:
- Develop strategies to disrupt themselves in order to prepare for this future of internal audit (whatever the current internal audit function maturity level);
- Provide effective, timely assurance over the risks that really matter to the business; and
- Operate high-performing internal audit functions.
Internal audit transformation
Helping the internal audit function build a roadmap to achieve a future vision and implement sustainable changes to drive value, cost efficiencies and balanced risk coverage.
Internal audit outsourcing/co-sourcing
Operating part /all of the internal audit function and delivering risk-based internal audits which: identify process and control related deficiencies; provide recommendations and track resolution; and assist with co-developing and monitoring remediation opportunities. Our work can also include supporting the function to achieve its strategic priorities through a variety of activities and initiatives e.g. internal audit training and development.
Internal audit effectiveness reviews
Assisting organisations in assessing how the internal audit function compares with leading practices and assess how the function aligns with the audit committee, executive management, and internal audit stakeholder needs and expectations. We provide recommendations on areas for improvement that will lead to a more effective, efficient and value-driven function.
Transforming internal audit for global supply chain organisation
Faced with the challenge to provide a greater breadth and depth of assurance and more relevant insight, by co-sourcing with internal audit we have helped transform the value that internal audit delivers. We have embedded data analytics into audit planning and delivery, introduced senior and experienced subject matter resources to deliver assurance across a broad range of strategic, operational and regulatory risk topics and worked in partnership with internal audit leadership to enhance risk assessment, audit planning, reporting and performance tracking.
Providing internal audit co-source services to one of the UK's leading retailers
Our work consists of enabling the internal audit function to achieve its strategic priorities as well as supporting the delivery of specific audits, either through the secondment of experienced internal audit professionals or through a range of subject matter resources. We worked with the internal audit team to strengthen their approach to using data analytics, helped embed cultural assessments in their internal audits and refreshed their approach to assuring transformation risk.
Delivering an effectiveness review for a global technology and media client
Our client’s internal audit function had seen significant change in its leadership over the last two years, with a new Global Head of Audit and changes to the majority of the leadership team. The client wanted an effectiveness review to assess the changes made under the new Global Head of Audit as well as the planned future changes. Our review focussed on the performance and operations of the function, taking into consideration the real-time enhancements that the leadership team were implementing during the course of our review. This required flexibility and adaptability to the changing landscape of the internal audit function.