In PricewaterhouseCoopers we aim at the continuous enhancement of your firm’s corporate audit department’s (CAD) effectiveness. The holistic approach we utilise in order to assess your CAD’s performance, provides useful insight in various aspects of your audit function’s procedures. Using this insight, along with the wealth of experience we have obtained from our partnership with major organisations, provides us with constructive recommendations concerning the improvement of your CAD so as to meet your stakeholders’ needs and expectations. The approach we employ is highly customisable in order to meet your specific requirements. Depending on your function’s special characteristics, we can conduct an assessment that reviews five key elements that determine your CAD’s success, to a comprehensive appraisal of more than twenty factors that drive effectiveness.
More specifically, based on the requirements set by the International Standards for the Professional Practice of Internal Auditing, as well as on your Executive Management and Audit Committee’s expectations, we take up an integrated methodology that offers us a thorough assessment of your CAD’s performance. Our approach covers every aspect of your department’s operation, including the Audit Committee Charter, the department’s organisation, the Risk Assessment, the utilisation of relevant audit software applications, sampling techniques, the CAD’s contact programme with management, follow up and tracking processes, and control opinion in the Audit Committee Report. Apart from identifying possible deviations from your management and stakeholders’ expectations, this process allows us to benchmark your CAD’s performance against other high performing Internal Audit Departments, and ultimately present you with suggestions that will augment your corporate audit department’s effectiveness.
