Effective Internal Audit

The need for Internal Audit

The regulatory environment and technology are changing faster than ever and accordingly, a company’s risk environment faces constant change. An Internal Audit function has to be able to keep up with the risk environment to deliver high quality services. Boards are now far more aware of the importance of managing risk and see Internal Audit as valuable partner to do so. Unlike external auditors, Internal Audit looks beyond financial risks and statements to the wider issues that help businesses to mitigate the risks to which they are exposed. This means the strategic value of Internal Audit is greater than it has ever been.

Therefore, a reactive approach to Internal Audit is no option; there can be no surprises when it comes to dealing with the risks and opportunities in your business. Internal Audit has always been one of the cornerstones of good governance. Our consultants in Internal Audit can help you to establish and resource the most suitable assurance model-one that is tailored to your size, sector, risk appetite and the regulatory requirements that apply to your organisation. BDO supports you with External Quality Assessments or Internal Audit services ranging from an in-house function to a fully-outsourced service.

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