As companies comply with the various legislative and reporting requirements governed by their industry, Internal Auditors are coming to grips with their role and involvement in these initiatives. These challenges include both short-term issues, as well as longer-term questions on the role and responsibilities of Internal
Audit in this process.
If this is your situation:
- You are concerned that your Internal Audit function cannot keep up with the changing risks facing your business.
- You find it difficult to recruit and retain Internal Audit professionals in all of your key skill areas.
- You need to supplement your in-house Internal Audit function with specialist skills (e.g. IT, ERP Audit, Treasury).
- Your Internal Audit function has insufficient resources to cover the geographic scope of your organisation.
- Your organisation considers Internal Audit to be a non-core activity so you want to find an external provider.
- You need to assess the effectiveness of your risk management, internal audit and corporate governance procedures.
How PwC can help you:
Maximising the value and effectiveness of the Internal Audit function requires an understanding of an organisation's objectives, risks, risk management priorities, regulatory environment and the diverse needs of critical stakeholders including executive management, the board, employees and shareholders. Ultimately, these needs determine the risk profile of the organisation and the strategic focus, organisation, resources and practices required of its Internal Audit department.
We can assist organisations that need help improving the quality and effectiveness of their Internal Audit processes in a number of ways:
- Providing Internal Audit Advisory services in assisting in the development of Internal Audit and risk management methodologies, including assessing whether the Internal Audit function is delivering effectively to stakeholders.
- Providing Internal Audit Resourcing solutions, including full outsourcing or complementing in-house functions with specialist skills or geographical coverage.
- Supporting Internal Audit functions with software to enhance and support their work. In addition, we can develop training for internal auditors using our extensive market and
industry knowledge to create highly-tailored solutions.
