Taking Over the Running of Your Internal Audit Operation
We have extensive experience in taking over the running of our clients’ entire internal audit operation. Our approach respects the fact that, although we have been called in as the risk control experts, our clients know their own risk situation better than anybody. Both complement each other perfectly and form a sound basis for successful cooperation.
Appropriate to this approach is that our clients designate a member of staff to work closely with us. When we take on the responsibility for running a client’s internal audit operation, we ensure that we do so according to best practice: First we make sure that all the prerequisites and basic mechanisms for taking over or setting up an internal audit operation have been put in place. Then we work with the client and carry out an analysis of the risk situation, concentrating on organizational units and major processes. Taking into consideration the available budget, we define and put into action a multi-period, multi-project plan. All auditing is carried out according to the principles and standards of the profession (i.e. The International Standards for the Professional Practice of Internal Auditing) and remains risk oriented at all stages.
Risk orientation in internal audit provides us with one particularly important insight, and that is that it is only worth auditing processes that are relevant to significant risks faced by the organization. Risk orientation ensures that at all stages of a project we only deal with the processes and organizational units that have a direct bearing on the achievement of our aims. It permeates everything that we do from the planning phase through to auditing and reporting. As a further service, if required, we can also monitor the implementation of remedial measures.
One substantial benefit of risk orientation is that you only engage our services when and where they are really needed. Spending time on the wrong processes or on insignificant ones simply results in unnecessary expense. And that is something we are happy to help you avoid.