An adequate internal audit function helps dynamic organisations manage their risks.
Organisations are faced with evolving strategic, financial, operational and technological challenges.
An effective internal audit function can provide independent and objective assurance over the effectiveness of internal controls and risk mitigation.
An effective Internal Audit function requires access to a pool of skilled and scalable resources, ready and able to assess and provide assurance around the full array of risks organisations are facing today. Organisations need to:
- determine whether the current in house capability is suitable for the changing nature of the company’s risk profile and the future internal audit plan
- leverage leading practices and insights from across markets and industry sectors
- challenge the internal audit plan and overall risk framework of the organisation
- build and support a specialist in-house team capable of delivering the required level of assurance and insight As this is not be feasible or cost effective for every organisation, our clients look to us to provide these services for them.
How Grant Thornton can help you
From a fully outsourced internal audit function to a one-off specialist risk review, our teams offer independent and objective support.
Our senior, certified and experienced internal auditors work with you as a collaborative partnership, covering all aspects of an internal audit function. We can help you with :
- co-sourced internal audit, supporting existing teams with the provision of experienced internal auditors and/or subject-matter experts
- outsourced internal audit, providing a comprehensive and best in class internal audit function
- one-off, independent assurance reviews
- transfer of knowledge through bespoke training and on the job assistance
- preparation of the internal audit plan
- Public Sector project funding audits, assessing the soundness of the funding’s financial management
- Internal Audit establishment and/or transformation advice
- Internal Audit quality reviews (QAR)
- advising the audit committee
- performing IT audits, providing evaluation of risks in IT systems and processes
- delivering project assurance
- advising on Data protection and data privacy (GDPR)
- security assessments (ISO 27001)
- cyber-security advice.