Internal Audit Sourcing

Given the current economic environment and ever-increasing emerging risks, internal audit functions:

• Are required to deliver higher value and improved quality at reduced costs;
• Are expected to continuously deliver insight and foresight;
• Are expected to look across the business as a whole and focus on all risks;
• Are required to spot future opportunities and challenges;
• Need to connect with the organisation as a whole and help in developing solutions to implement recommendations;
• Need to free up scarce resources to work on other critical business needs and turn fixed costs of internal audit staff into potential variable cost.

PwC can help our clients create a future-facing internal audit function that will enhance value for the organisation, through the full outsourcing or co-sourcing of internal audit services.

We deliver continuous insight, foresight and access to a comprehensive range of specialists, enabling the improvement of  governance, management of risk and confidence regarding  the smooth operations of your organisation.

Our tried-and-tested internal audit methodology  identifies four key stages to be undertaken in order to develop and implement an operationally effective capability:

• Risk Assessment
• Audit planning
• Detailed Planning, Execution and Reporting
• Processes for tracking issues and communicating with stakeholders.