Establishing your internal audit department
Ten-Step Methodology to design and develop an internal audit department
To help companies design and implement a strategically focused internal audit function, we have developed a 10-step start-up framework. This framework has been proven effective through our work with companies of all sizes. Steps 1-4 focus on strategic issues, while steps 5-10 focus on equally important, but more tactical considerations.
Assessing the effectiveness of internal audit
Our assessment services help companies understand the quality and effectiveness of their internal audit functions. We help improve internal audit performance by aligning internal audit resources and capabilities with the needs and expectations of key stakeholders. Assessment services include:
- Evaluation against IIA International Standards
- Quality Assurance Review (QARplus)
- Profiler (Qualitative Benchmarking)
- Assessment of Global Best Practices (Quantitative Benchmarking)
Enhancing the performance of internal audit
We have worked with a number of clients to develop and implement improved methodologies or ways of working. These typically develop from risk assessment and annual planning through to conducting individual audits and on to audit committee and other stakeholder reporting.The following are examples of performance enhancement initiatives:
- Developing organizational structures and strategies
- Revising working practices (e.g. the risk assessment process)
- Implementing measurement processes (e.g. balanced scorecards)
Training internal auditors
We design, develop and deliver customised training to meet the specific needs and objectives of your organisation and make the most of your investment. PwC's training programme includes:
- Induction for incoming internal audit managers
- New methodology courses - induction courses for new auditors
- IT auditing skills courses
- Training strategy and competency frameworks
