Overview
Our Internal Auditing consultants embraces the Institute Internal Auditor’s (IIA) framework and best practices to internal auditing regarding governance, risk and compliance activities. The IIA’s Definition of Internal Auditing states the fundamental purposes, nature, and scope of internal auditing:
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Helping the organization accomplish its objectives.
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Evaluating and improving the effectiveness of risk management, control, and governance processes.
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Assurance and consulting activity designed to add value and improve operations.
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Independence and objectivity.
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A systematic and disciplined approach (specifically, the engagement process).
What you can expect
To truly add value and improve operations, internal assurance and consulting engagements must be performed in a systematic and disciplined manner. There are three fundamental phases in the audit engagement process:
Governance and Oversight (Internal Auditing)
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Improve program effectiveness
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Set the right tone to make effective decisions
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Assess and implement various programs, training, change management and monitoring/reporting
Risk and Quality Review
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Strategic risk management: creating and protecting value from strategic risks
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Design, implement and maintain a common risk infrastructure by leveraging people, process and technology transformation opportunities
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Establish organization-wide consistency while simultaneously addressing different and unique functional needs
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Identify, measure, manage, monitor, review and report on risks
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Integrate activities to effectively manage risk and compliance-related activities
Compliance & Regulatory
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Compliance program design and control testing
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Compliance monitoring, assessment, and effectiveness
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Regulatory consulting
Benefits
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Increased clarity of the roles and boundaries between the Programs and Management.
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Increased programs effectiveness and efficiency.
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Processes to meet regulatory requirements established.
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Reliable and accessible data for internal and external reporting.
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Reduced overall risk and increased compliance.