Internal audit services
Given the pace of change in today's business climate, including increasing regulatory focus on good governance and management control, mergers and acquisitions, globalisation, new technologies, systems implementations and cost pressures, today’s organisations face a considerable challenge in developing and maintaining a high performance internal audit function to assist in effective business risk management.
Driven by the need for more effective business risk management, clients turn to our Internal Audit Services (IAS) professionals for help in improving or outsourcing their IA functions. Our IAS practice provides a broad range of solutions to companies seeking to strengthen their internal control, risk monitoring and strategic risk management capabilities.
Our primary focus is to provide tailored and practical solutions to our customers by utilising highly experienced professionals, current technology tools, proven worldwide methodologies, integrated multi-disciplinary teams, standard industry practices information developed by PricewaterhouseCoopers International Limited member firms.
We currently provide internal audit services to a variety of business organisations in the petroleum and petrochemical, financial services, manufacturing, education, retail and distribution sectors, including:
Internal Audit Risk Assessments and Strategic Planning
An internal audit risk assessment ensures the internal audit plan considers the entire organisation, and demonstrates that significant areas of risk have been considered. The risk assessment will provide to the Audit Committee and Management the areas of highest priority, thus ensuring that the internal audit plan is risk focused.
Quality Assurance Reviews
Review internal audit departments, identify areas of improvements, benchmark against current professional standards, audit methodologies and technologies and other “standard industry practices” and develop action plans.
Corporate Governance Reviews
Our corporate governance reviews focus on management philosophy and operating styles, functioning of the board of directors, organisational structure, methods of assigning responsibility and authority and management control methods. In performing our assessment, we consider current standard industry practices in corporate governance, including those recommended by the Committee of Sponsoring Organisations.
Training
We design and deliver specific courses to meet our client’s needs. This includes training internal audit staff in the following areas:
- Risk Assessment and Strategic Planning
- Audit methodology
- Audit technical skills
- Management techniques
- Use of technology
- Computer systems risks and controls
- IT knowledge and awareness
Assistance in setting up internal audit departments
In addition to training, this service includes assistance in setting up an in-house internal audit methodology that is consistent with standard industry practices and the principles of the Institute of Internal Auditors.
Financial Investigations
This service focuses on investigation of a variety of white collar crimes including misappropriation of funds, false expense reporting, kickbacks and secret commissions, phantom vendors, payroll fraud, receivable lapping, fraudulent insurance claims, computer fraud and other monetary and non-monetary fraud.
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