Internal Audit

We help you create a future-facing and technology focused Internal Audit function that enhances value for you.

Our team is committed to supporting you and ensuring you receive industry insight by providing internal audit propositions tailored to meet your business objectives and access to a comprehensive range of specialists, enabling you to improve governance and regulatory management, manage risk and be confident in the smooth operations of your organization.

Explore our latest Global research and insights

PwC Global Internal Audit Study 2023

State of the Internal Audit Profession Study 2019

PwC's 2018 State of the Internal Audit Profession

The evolving role of Internal Audit

Explore our services

Outsourcing

Through our outsourcing services, our clients are able to focus on their core business competence while we assist by providing a robust internal audit that aligns with management’s strategic risk objectives and one that meets stakeholders’ expectations.

Key Benefits

Multi-competency global IA team
Immediate access to dedicated industry auditors and specialists
Innovative internal audit methodology, tools and approach
Cost effective and higher quality internal audit service.
Experienced Head of Internal Audit

Co-sourcing

Our co-sourcing helps to support the clients’ internal audit team to deliver specific projects, assignments or to provide specialised internal audit services.

Key Benefits

Focus on the risks critical to the client’s business
Access to variety of specialists with deep knowledge of client’s industry, operations, risks and audit skills.
Higher quality at lower cost
Knowledge transfer to the client organisation

Analytics

An effective internal audit function needs to deliver real insight and value to the business, whilst at the same time demonstrating increased efficiency and reach. The use of Internal audit analytics to replace traditional audit testing procedures sits at the core of realising these objectives and we endeavour to use data analytics where possible.

Key Benefits

Enhanced capabilities and re-usable analytics across risk areas
Visibility to risk indicators when and where you need it
Increased insight to transaction processing and compliance metrics
Consistent use of analytics to maximize coverage where you need it

Advisory/Consulting

Through our Internal Audit Consulting, we help to boost the impact of the clients’ IA function by assisting in establishing or developing your business processes and procedures to bring about improvement. Our services includes assisting with risk assessment and internal audit plans, review of methodology, preparation of work programs, standardisation of reporting, risk-based IA training, among other services you may require.

Key Benefits

Enhanced corporate governance that highlight the issues that really matter to the board
Increased confidence in managing significant business risks across the organization through integration of IA, ERM and other risk functions
Re-focused on areas that create value rather than acting only as a value protection function
Better managed technology risks which includes enhancing and integrating IT audit across the company and its IT domains
Improved skills of the IA staff, knowledge of IA methodology and available tools

External Quality Assessment

External Quality Assessment (EQA) is an assessment of the compliance with Institute of Internal Auditors (IIA) Standards. This is required at least once in five years based on Standard 1300 of the IIA Standards and once every three years for every listed company based on Section 31 (14) of the SEC Code of Corporate Governance.

Key Benefits

Compliance with IIA Standards and SEC Code of Corporate Governance
Evaluation of performance against stakeholder expectations
Benchmark of your IAD against leading IA practices
Assessment of the level of maturity

Technology

Internal Audit Technology Support provides you with IT systems to enhance your rendering of internal audit services. This includes applications, templates and tools that improve your ability to deliver effective, efficient and economic internal audit services. They support all internal audit processes from risk assessment, through planning and fieldwork, to reporting and issues tracking.

Key Benefits

Focused planning and auditing
Enables systematic and workflow driven audit processes
Facilitates a closed-loop audit cycle for recording findings, developing recommendations, and implementing monitoring action plans
Provides complete visibility into audit processes and metrics for better risk management and assured compliance
Strengthens the efficiency of the audit staff

Announcement

Adapt your Internal Audit to meet Global IA Standards

Enterprise Continuous Monitoring

PwC’s Enterprise Continuous Monitoring (ECM) allows assurance providers gain early insight into control failures & compliance violations, escalates exceptions to responsible officers as soon as they are identified and tracks the resolution of those issues. The solution continuously reviews underlying transactional data and ensures assurance is provided over events in near real-time.

The Continuous Monitoring Platform automatically analyses processes, transaction and master data from disparate sources, allowing for near real-time insights in the organisational control. Customised dashboards highlight the exceptions to pre-defined requirements and thus enable swift and thorough action. Exceptions will be handled by the business responsible via customised workflows, making compliance part of the day-to-day business

PwC’s ECM solution comes pre-packed with plug and play, ready-to-deploy analytics, reviewing processes such as IT General Controls (ITGCs), e-banking channels, procure-to-pay, general ledger, order-to-cash, inventory management etc.