Internal Audit Advisory
Much like explorers in extreme conditions who must continually manage risk and uncertainty, companies have come to accept that market volatility and complexity, along with political and regulatory change, are here to stay.
Yet, in this greater risk context, many internal audit functions are not keeping pace, and companies face a major challenge in determining their strategy for internal audit and realising value from their investment.
At PwC, we support our clients to face internal audit challenges based on our global Internal Audit Methodology and the global best working practices. Our audit approach is risk-based and takes into account the priorities of key audit stakeholders. Our Internal Audit Advisory services include:
- Establishing internal audit functions
- Developing internal audit methodologies and manuals
- Performing risk assessments and developing audit plans
- Developing audit programmes
- Consulting on and supporting internal audit technology implementations (TeamMate Audit Management System®)
- Performing External Quality Assessments of internal audit functions
- Developing and delivering internal audit training addressed to the needs of each industry
Successes
We have supported a major company in the energy sector to fully reorganise its Internal Audit Department's structure and operations by:
- Delivering a new Organisational Framework of the department;
- Drafting an internal audit methodology manual tailored to their needs;
- Producing a risk assessment and annual audit plan;
- Providing training to internal audit staff on all relevant methodologies;
- Supporting the staff during the implementation of the internal audit methodology though on-the-job training.
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