Internal audit

Internal audit is used worldwide as a tool for verifying if processes are running efficiently and according to the rules. The results of well-conducted audits can be drawn upon by the company's supervisory bodies, external auditors and supervisors, such as national regulators in the financial markets (central banks, stock exchanges). The entire public sector also requires special regulations. Although the requirements of the individual standards and regulations are different, all of them are based on the same foundations. These include standards for internal control systems based on the COSO control framework. Standards are based on the International Standards for Professional Practice of Internal Audit.

What then is the advantage of an internal audit of a company or organization?

It primarily serves to ensure that all processes within the organization are conducted according to valid standards. This assures the company's management that in the case of external control all activities and processes will be in order.

Are internal auditors able to handle such a large amount of information?

An internal auditor is a person who has a wide range of knowledge and skills. In addition, if an internal audit is provided by an external auditor, it can offer the use of so-called best practices.

How can an internal audit add value to management and business?

An internal audit deals with issues that are fundamentally important to the prosperity of any organization. It offers consulting help to improve those systems and processes where necessary and helps management create a road map for a smooth transition. An integral part is negative reporting, which detects obstacles to the positive transformation of individual processes.

What we can offer you?

Setting up an internal audit function.
Reporting on the status of the internal audit.
Preparation of mid-term and short-term internal audit plans.
Performing individual audit inquiries in the form of outsourcing or co-sourcing.
Compilation of annual internal audit reports.
Performing special audit inquiries (IT, GDPR, ...).