Internal Auditing is an objective assurance and consulting activity designed to add value and improve an organisation's operations. It can help an organization accomplish its strategic objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes.
Enterprise Risk Management services is designed to assist companies in developing the people, processes and technology required to identify, assess and respond to key enterprise risks. They typically encompass;
Governance & Risk Oversight services help senior executives and boards to evaluate a company's risk management environment, design and implement solutions to identify, assess and respond to strategic risks, and improve Enterprise Risk Management capabilities.
IT Internal Audit incorporates technology control reviews, security, ERP and other technology related audits, including general computer controls performed in conjunction with internal audit activities.
Quality Assessment services offer a comprehensive review of the overall effectiveness of an internal audit function including compliance to professional standards, effectiveness and efficiency of function activities, organization, resource and skill capabilities, evaluation of stakeholder needs and fulfillment of those needs, and identification of strengths and improvement opportunities that strategically position the internal audit function for on-going success. These services can be provided to attest and non-attest clients.
Out / Co - sourcing arrangements; The traditional view of the corporate Internal Audit Function is a group whose mission is to be an independent department within the organization to report to management on the adequacy and strength of the internal control structure. This role has changed over time and the scope of internal auditing has evolved to include not only the safeguarding of organizational value, but also include the enhancement of this value. More and more businesses are deciding to outsource ancillary or support functions to outside providers. This allows the organisation to focus on its "core business" functions of addressing competition and increasing its market share. Internal Audit is one area where outsourcing can be successful.