Strategic Internal Audit Advisory Services
PwC has developed a Ten-Steps Approach to design and develop an internal audit function to our clients. This is a start-up framework to help companies designing and implementing a strategically focused internal audit function. In our first steps we focus on strategic issues while following steps focus on more tactical consideration being of the same importance. Effective use of the framework will help you develop your strategies and implement the right tactics to ensure your success.
Risk Assessment Services
Risk, complexity and uncertainty define today’s business environment. PwC is unique among the Big 4 firms in that we drive integrated risk services. PwC’ commitment to risk management is further evident in our formation of the world’s largest and dedicated consulting practice.
We have developed several specialized integrated risk tools that allow us to customize our risk assessment process for each client, developed specifically for use by our internal audit services practice and including security review, project management, data analysis and systems assessment tools. We also offer a balanced integration of key, specialized knowledge resources including strategic, operational, financial and regulatory risk management. These specialized resources support the internal audit practice, ensuring the talents of our people are leveraged to the benefit of clients.
Sarbanes-Oxley and Basel II Support
Companies must recognize and proactively address the impact of change on business processes and related internal controls, and therefore their ability to sustain Sarbanes-Oxley/ Basel II compliance. Success will require a focused, defined program designed to operate year after year as a natural part of the business. Embedding compliance firmly in ongoing operations requires an organizational structure with clear accountability, an efficient operating structure and an enabling technology structure.
PwC Internal Audit team may assist in preparation for SOX 404 compliance including preparation of process and control documentation, in assessment of control design and control operation and it may even assist in preparation for Basel II compliance.
Quality Assurance Reviews
PwC is the only provider to develop an Internal Audit Advisory Services (IAAS) practice fully dedicated to helping internal audit organizations to improve performance. Our IAAS practice has developed proprietary Quality Assurance Review (QAR) methodologies and technologies to help bring leading practices to our clients.
The combination of internal audit leadership, industry expertise and supporting tools, technologies and methodologies may deliver unique and value added services. No other firm can provide a similar combination to deliver value to its clients.
Based on challenges and expectations, it is clear for PwC that our clients are searching for a consultant that assists in developing an Internal Audit Quality Assurance and Improvement Program:
- which is in line with IIA standards and uses Global Best Practices;
- which improves quality of Internal Audit department;
- which enables the Audit Committee to continuously monitor the effectiveness of IA activity.
Internal Audit Trainings
Trainings designed by PwC may occur in many different forms and media. We have deep experience in designing and delivering trainings to our clients across a wide variety of topics - technical, operational, business consulting, people development. We currently provide trainings in the following topics for our clients:
- An Introduction to Internal Auditing - An orientation for new Internal auditors
- The Practice for Internal Audit
- Audit Negotiations and Interview Techniques
- Evaluating Internal Controls
- The New Auditor in Charge
- A New Look at Ethics & Fraud
- Report Writing & Communication
- The Standards for the Professional Practice of Internal Auditing
- The Risk Assessment and Risk Based Auditing
- Contract Auditing
- Value-for-Money Auditing
- Introduction to Control Self Assessment
- Corporate Governance
- COSO II & ERM & IA’s role in ERM
- Audit Committees.
We utilize a number of leading knowledge bases and technology tools, including, but not limited to, the COSO Enterprise Wide Risk Management framework, TeamMate™, Project Office project management, Global Best Practices® process benchmarking and Profiler™ internal audit benchmarking. We are able and willing to help to draft a training strategy for the Internal Audit function to meet our clients’ specific needs. Our training strategy identifies processes which must take place to ensure learning and development needs are captured, addressed and reviewed. Typically, industry-specific, technical and management trainings that leverages thought our leadership are developed, tailored and delivered specifically to support the needs of each individual in accordance with her/his level of expertise.
