Internal Audit

The Board faces continual pressure from stakeholders to mitigate risk yet drive business performance. Internal audit plays a critical role in providing objective assurance that protects the business against risk, informs strategic decision-making and improves its performance. However, many organisations do not have an internal audit function with sufficient expertise to step up to the challenge.

We help companies improve the value and performance of the internal audit function by providing solutions tailored to your needs. Whether you need outsourcing/co-sourcing, internal audit transformation or internal audit start-up assistance, we bring extensive knowledge of internal audit, along with sector specialists who know your industry and its technical risk areas.

Potential issues

  • Your internal audit function has insufficient resource to cover the geographical spread of your organisation
  • You want to improve your internal audit function to keep pace with changing risks
  • You want to assess the effectiveness of your risk management, internal audit and corporate governance procedures
  • You need assurance that your processes and controls effectively manage your business risks
  • You are concerned about finding sufficient or specialised talent to audit complex areas
  • You need advice on how to align the work of the internal audit function with your organisation's strategic objectives.

How we can support you

  • Assess whether your internal audit function is delivering effectively to stakeholders
  • Provide reassurance that your internal audit, risk management and corporate governance procedures are operating effectively
  • Advise on the development of internal audit and risk management methodologies that align with strategic business objectives
  • Access to specialist internal audit skills using a consistent approach on a global basis
  • Provide internal audit resourcing solutions, including full outsourcing or complementing in-house functions with specialist skills or geographical coverage.

PwC's services include:

  • Internal audit outsourcing - an outsourced service provided through a combination of a dedicated, core delivery service team and a virtual team.
  • Internal audit co-sourcing - in our co-sourcing arrangements, we work in partnership with our clients, taking a variety of roles and responsibilities, but reporting overall to the head of internal audit
  • Internal audit effectiveness reviews
  • Advisory services related to any aspect of internal audit including methodology and tools
  • Training services.