Internal audit

At PwC, we understand the critical role that internal audits play in ensuring the integrity, compliance, and efficiency of your organization's operations. However, managing an effective internal audit function can be a complex and a resource-intensive endeavor. We help to provide a robust internal audit that aligns with management’s strategic objectives and meet stakeholders’ expectations while you focus on your core business competence.

Quality Assurance (QA) is the cornerstone of success for any organization striving for excellence, customer satisfaction, and operational efficiency. With our services, we offer comprehensive Quality Assurance Reviews that empower your business to deliver consistent, high-quality products and services. Our QA Review Services include:

• Process Audits: We assess your existing processes to identify bottlenecks, inefficiencies, and areas for improvement.
• Product and Service Testing: Our team rigorously tests your products or services to ensure they meet quality standards and customer expectations.
• Compliance Audits: We help you navigate complex regulatory landscapes by ensuring your operations align with industry-specific regulations.
• Documentation Review: Proper documentation is essential for compliance and process improvement.

We understand that every organization is unique. Our approach to setting up your internal audit team is tailored to your specific needs:

• Assessment and Planning: We conduct a thorough assessment of your organization's structure, risks, and objectives to create a customized audit plan.
• Team Recruitment and Training: We assist in recruiting skilled internal auditors or provide training for existing staff, ensuring they have the necessary expertise.
• Policy and Procedure Development: We help develop internal audit policies and procedures that align with your organization's goals and industry regulations.
• Audit Program Development: Creating customized audit programs and risk assessment methodologies tailored to your business processes.

Effective internal controls are the backbone of sound corporate governance, ensuring compliance, reducing risks, and promoting operational efficiency. We provide you with comprehensive Internal Controls Training as a service to equip your team with the knowledge and skills needed to establish and maintain robust control mechanisms.

What we offer to you:

• Customized Training Programs: Developing training modules and materials specific to your industry, processes, and compliance requirements.
• Risk Assessment and Control Identification: Teaching your team how to identify and assess risks and design controls accordingly.
• Internal Audit and Monitoring: Assist in Internal Audit capability building by providing tailored trainings across levels i.e. beginner, intermediate and advanced levels.

We work with you to establish a robust anti-fraud framework to provide comfort to stakeholders and enhance management monitoring, including fraud review, post-remediation and process re-engineering to improve internal controls to prevent fraud incidents from recurring.

We can help you to:

• Review your organization's fraud governance structure.
• Assess the maturity of your fraud risk management programme and benchmark against a standardized framework.
• Assess the key controls implemented to protect your organization from internal and external fraud.
• Review your organization's investigative function, including assessing the processes used to collect, preserve and store data, the quality of reporting, and stakeholder management.

A timely review of your processes and controls to help ensure their designs continue to address your needs and risks, and ensure their efficiency and effectiveness.

We can help you to:

• Develop strong board and management processes to enable effective governance.
• Guide management to develop a clear 'tone from the top'.
• Measure and monitor your control culture.
• Ensure your processes incorporate expected levels of key controls.
• Develop monitoring systems to ensure your controls work to support local governance and reporting needs.

In today's interconnected business environment, relying on third-party vendors and partners has become a standard practice. While these relationships offer numerous advantages, they also introduce risks that can impact your organization's reputation, security, and compliance.

We can assist you in managing these risks through a comprehensive approach to tailored to your needs:

• Risk Assessment: We identify and prioritize third-party risks based on their potential impact and likelihood.
• Vendor Evaluation: We assess third-party vendors against established criteria, evaluating their performance and risk posture.
• Compliance Verification: We ensure that third parties meet regulatory requirements and contractual obligations.