Internal Audit Services

The business environment today is more complex and uncertain. Organizations are increasingly interconnected and interdependent. Technology is evolving at an accelerating pace. As a result, improved risk management is a strategic priority.

Jason Pett shares the future of Internal Audit departments and their evolving roles.

The opportunity for Internal Audit has never been greater, but requires solving the puzzle of doing more with less. PwC is helping our clients be successful in these challenging times.

2013, State of the Internal Audit profession

“Internal audit has to be seen to be adding value. It is not a cost of compliance anymore. Internal audit has to get that mindset changed.”

— Mervyn King, Chairman of the King Committee on Corporate Governance

Hot off the presses, PwC’s 9th annual State of the Internal Audit Profession study takes an in depth look at how internal auditors are responding to the changing needs and expectations of their businesses (see regional comparative data on where the participants saw the greatest risks to their business). The overwhelming opinion of 1,700 executives participating in the 9th annual PwC State of the Internal Audit Profession Research is that internal audit needs to reach for new heights and contribute to the organization in a more meaningful way (see how coordinated internal audit's risk assessment process is with - Functional risk management groups).

Download the 2013 State of Internal Audit profession.

Our research clearly indicates that internal audit must continue to evolve in its focus and significantly improve its performance—or risk losing relevance as other risk functions become more vital contributors to the organization’s risk management.

What are the most critical risks that the organization faces today?
 

How coordinated is internal audit's risk assessment process with - Functional risk management groups?

Defining the new height: Attributes of top-performing Internal Audit functions

In our research, a subset of organizations represented by 5 percent of the respondent base stood out as “high performing” in that they manage risks extremely well and have internal audit functions that deliver significant value. High-performing internal audit functions stood out from others on a number of fronts, from the services they offer to the risks they address to the capabilities that enable their strong performance.

Two recent publications outline the path to distinction:

Capabilities for Success

You can count on PwC for the powerful, multifaceted capabilities we routinely deliver to a long roster of clients. Working collaboratively with you, we can help Internal Audit cement its credibility as a strategic asset.

Whether your needs are for assessing your function, transforming it for today's environment, or simply executing specialist audit projects, you’ll have a business partner with the industry knowledge, and internal audit skills and tools you need.