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Internal Audit

 

We believe the key objective of an effective Internal Audit function is to provide a sustainable, responsive, risk-based and cost effective service.

We recognise that you are looking for the Internal Audit function to assume a leadership role in assisting with risk management responsibilities and adding value to your operations. In supporting you, we use a proactive risk-based methodology that is embedded into our audit approach.

With changes frequently occurring within the sector, the Board and Management teams are constantly revising their strategies and systems that deliver and monitor services.

As NFP specialists, we are fully aware of the unique requirements and regulatory pressures affecting your sector. Our team are dedicated to providing your organisation with a clear, timely and professional service, working collaboratively with you and your staff during the internal auditing process.

Our extensive industry experience and deep understanding of the sector, means we are able to accurately and effectively assess the key risks associated with your organisation to develop an Internal Audit Plan. Our process will feedback on your current policies and procedures, risks assessed for your organisation and any gaps in between.

Our internal audit objectives include:

  • Reporting any gaps between policy and controls
  • Identifying overlap of controls and inefficiencies with plans to resolve them
  • Providing assurance that the identified safeguards and controls are in place
  • Testing that Board approved policies are embedded in day-to-day operations
  • Reporting the scope, coverage and results of each audit project to the Audit and Risk Committee
  • Providing assurance that the risk management framework is effective in identifying and rating inherent and residual risks
  • Maintaining flexibility in our audit plan to complete targeted audit projects, address emerging risks and validate Management's assessment of business opportunities