We bring in with us strong industry experience and service delivery expertise to provide turnkey Internal Audit capabilities at competitive costs. We will help you expand risk coverage while adding value through our process improvement, cost saving and revenue enhancement recommendations.
Outsourcing of Internal AuditOutsourcing the internal audit function is becoming a strategic imperative. There are essentially two options: full or partial outsourcing.
Many organizations find that outsourcing the entire internal audit function is the best option, since this also helps organizations focus on their core competence. It may be practical for the organization to retain a resource in-house, the chief internal auditor, who can assess the ongoing needs of both the internal audit process and the organization itself. This individual has a key role to play in planning the allocation of internal audit resources and communicating with the Audit Committee and management.
This approach, also known as co-sourcing, involves a balance between retaining an in-house team and full outsourcing. The in-house team has control of and responsibility for internal audit, and calls on external advisors for additional support and specialist skills when required.
Many organizations are actively outsourcing their internal audit function as a way of cutting costs, increasing efficiency, and responsiveness, and upgrading their in-house capabilities.
This approach involves an integrated formal partnership between the in-house internal audit function and the external advisors, with each party sharing and contributing complementary knowledge, skills and experiences.
Our Internal Audit approach is designed to address the same business concerns that management is required to deal with, and to provide assurance in the following key areas:
Operational efficiencies and effectiveness, with an emphasis on those areas with the greatest risk exposure. Compliance with regulatory requirements, approved policies and procedures and industry best practices. Quality of management information.