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In a continuously evolving environment, the risk landscape is ever-changing. In response, Internal Audit (IA) has emerged as a critical lever for change as it offers an agile and a dynamic view of risk. A modern internal audit function can contribute to the improvement of organisational processes and the efficiency of control systems by assessing and making recommendations.
IA is at the heart of trust. It gives companies and their stakeholders confidence in their people, processes, systems and data, allowing them to see risk differently, move faster and make better decisions.
IA has a unique combination of risk-mindset, objectivity and organisational reach. At PwC, we believe that with the right vision, approach and technology, IA can act as a ‘lighthouse’ to help companies navigate risk and see around corners. This both protects value and casts light on new opportunities for value creation.
PwC Internal Audit services brings the full range of the specialty skills and industry experience to give our clients the confidence and insights they need. The systems, capabilities and collective knowledge we deploy, can deliver sharp and objective insights and high value to our clients.
We recognise the importance of a flexible approach that can be tailored to meet each organisation’s needs. PwC's full managed service brings the power of PwC technologies and specialists to organisations. Outsourcing will include:
Set up or transform the internal audit function: Plan, develop and structure internal audit so that it is the right fit for your organisation and fit for the future.
IA function set-up
Development of the IA charter and IA manual
Development of the IA plan
Deliver the Internal Audit plan: Combine modern audit methods, technology, industry knowledge and subject matter expertise to deliver effective IA including:
Planning, scoping and work programme design
Reporting and stakeholder engagement
Perform follow-up internal audits
We have reimagined how we can best support in-house Internal Audit functions. We can work in a partnership that can supplement your own team with subject matter expertise or additional experienced auditors. We can provide you access to specialists in areas such as Information Technology, Cybersecurity, Anti-Money Laundering and Data Protection.
PwC provides training solutions tailored to your needs. PwC will train your Internal Audit teams on various topics ranging from methodology to technical areas. PwC can also provide training to your Audit Committee members, Board members and management teams on their roles and responsibilities vis-a-vis Internal Audit.
We are focused on providing insight needed to support you in times of change and when there is heightened risk. Our capabilities can be divided into three broad categories: Internal Audit function set up and development (including key foundational areas such as planning, methodology, training, and quality assurance), External Quality Assessments and assisting you in addressing a particular problem or risk (e.g. regulatory breaches, including root-cause analysis and remedial monitoring to satisfy regulatory requirements).
Internal auditing is no longer only about checking boxes in a constantly shifting risk environment. Internal audit is essential to your organisation's ability to accomplish its strategic business goals in the dynamic environment of today while maintaining the level of risk you prefer.