What is an Internal Audit?
Internal audit is designed to assess the key risks facing a business, the effectiveness of the business in managing those risks and the control processes that management has implemented. Internal auditors often perform a more advisory role by issuing recommendations aimed at supporting management in improving its systems and controls and identifying deficiencies in certain business areas.
Internal audit ensures compliance with laws and regulations and helps to maintain accurate and timely financial reporting and data collection. It also helps management to identify and implement the tools necessary to attain operational efficiency.
From a corporate governance perspective, Boards of Directors are becoming much more aware of the importance of understanding risk. Internal audit looks beyond financial statement risks, towards the wider issues that help businesses to mitigate the risks to which they are exposed.
How can we help?
In an ever-changing regulatory environment, our team will help your business keep up with the pace of constant changes which makes managing the business more complex.
We work closely with you to provide support though a fully outsourced or co-sourced internal audit service. We are happy to provide specialist input, in dealting with significant issues or deficiencies that may arise in an organisations’s control environment.