RSM Australia

Internal audit

The increased focus on governance and controls has raised the profile and responsibility of internal auditors in both private and public organisations, consequently internal auditors are assuming a more strategic role that is linked to the overall assessment of risk. RSM provides internal audit services of the highest quality to suit the needs of businesses and their stakeholders.

Businesses will benefit from experienced, independent professional evaluations on the quality and effectiveness of their risk management, governance and control arrangements. RSM works with businesses to identify areas for improvement and explore ways to meet their objectives. They can provide a range of support including fully outsourced solutions, working in partnership with in-house internal audit teams, or the supply of specialist services. All three of these delivery models give the advantage of scalability and flexibility, which is especially beneficial in the current economic climate.

The approaches adopted are based on a standard methodology that embraces the key elements of the Risk Management Standards (ISO 31000) and fully complies with the International Professional Practice Framework (IPPF) issued by the Global Institute of Internal Auditors.

Core to the risk-based audit methodology is an understanding of the risk profile of organisations and assessing where internal audit work can add most value.

Internal audit focus areas

  • focus internal audit resources on areas critical to the success of the organisation
  • meet all professional standards and requirements
  • provide stakeholders and managers with assurances that their key systems and controls are in place and working effectively
  • allow in-house resources to be used more effectively
  • provide dedicated internal audit professionals without the day to day managerial requirements
  • monitor key areas of the client's organisation
  • provide clients with access to experts on various subjects
  • provide clear opinions linked back to the risk profile

Internal audit & related services

  • fully outsourced internal audit services
  • provision of specialists in fields such as IT, environmental, project and tax audit
  • partnering with in-house teams
  • helping establish an internal audit function
  • internal audit quality assessments accredited by the IIA
  • corporate governance advice
  • audit committee training

Post Pandemic - Is your payroll system the next disaster?

1 September 2020
While most employers don’t deliberately underpay employees, errors can occur. Coles, Woolworths, Hero Sushi and MasterChef George Calombaris are the latest in a long line of companies and franchises to be caught in payroll scandals as a result of outdated payroll systems.

How we increase our service offering by adopting an Agile approach

14 August 2020
With our Agile methodology embedded in our day-to-day way of working, we move quickly and easily to meet and exceed your expectations.

Business Continuity Plan: Development Methodology

5 May 2020
Business Continuity Plan (BCP) experts at RSM bring some of the deepest and most thorough understanding of underlying risk and incident management issues.

Home office security essentials and tax deductions during COVID-19

26 March 2020
To minimise the spread of COVID-19, businesses across the globe are hurrying to implement remote working for employees.

South Pacific and Asia Conference 2020 (SOPAC®)

2 March 2020
Darren Booth, National Head of Security and Privacy Risk Services at RSM Australia, will be presenting at the upcoming South Pacific and Asia Conference 2020 (SOPAC®) on 'The latest news in cyber security'. This presentation will cover the following:

Catch 22: Digital Transformation and it's impact on cybersecurity | RSM Australia

17 February 2020
Regardless of their digital footprint, any business with a reliance on technology is at risk of cybercrime.

Independence issues for internal auditors

12 February 2020
Internal audits can help organisations understand how well they’re managing their risk, control, and governance processes. Internal auditors don’t just examine an organisation’s financials; they review all aspects of its operations to identify ways to help the organisation improve its performance. 

Audit Office of NSW - Internal Controls and Governance 2019

30 January 2020
In November 2019, the Audit Office of New South Wales (AONSW) released a report summarising sector-wide findings and recommendations relating to internal controls and governance from their 2018-19 financial audits of the 40 of the largest public-sector agencies in NSW.

Audit Committee Guidelines by the Department of Finance

30 January 2020
A good governance is a combination of processes and structures implemented by the Board to inform, direct, manage and monitor the activities of the organisation toward the achievement of the organisation’s objectives. The Audit Committee plays a pivotal role in ensuring good governance by overseeing the organisation’s

Safeguard Mechanism - Baseline Application Key Dates

7 January 2020
In early March 2019, amendments were made to the National Greenhouse and Energy Reporting (Safeguard Mechanism) Rule 2015  which had the effect of:

Is your internal audit of AML/CTF doing all it should?

25 November 2019
The Internal Audit (IA) should provide a comprehensive review of your Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) program

Emerging Competition in the Financial System

22 November 2019
The sharing economy has grown significantly in recent years, facilitating innovation, job growth and more choices for consumers. It started with taxis and hotel rooms, but will financial services follow soon? Or has it already begun with the new wave of fintechs?

Top of mind Cyber Security concerns for the financial services industry

26 September 2019
Cyber attacks and data breaches are now commonplace in financial services, more so than in any other industry and becoming the number-one risk concern for executives and directors.  

Expertise in climate change, sustainability and environmental risk management

4 June 2019
Climate change and the environment are topics continually making headlines on a regular basis.

Assessing Governance - A Critical Step for Successful Change

14 March 2018
Perhaps one of the absolute truisms is that we live in a changing world. 

4 steps banks should take to strengthen compliance management systems

13 January 2017
Focus on compliance culture and approach, not just transactions Regulators are taking a different approach to examinations at banks and credit unions. Where, until recently, they focused almost exclusively on files and transaction testing, they are now also taking a harder look at each institution’s overall compliance approach.

8 ways to reinvent internal audit

26 October 2016
Reposition the focus from the “how to” to the “outcome”. Innovate ways to partner with stakeholders to reach the desired outcome. Embed the need for business acumen in order to provide practical advice and insight which creates value.

Recent AML/CTF Updates: A KYC Game Changer

24 October 2016
Fundamental changes to how reporting entities collect ‘Know Your Customer’ (KYC) information

Our services to the local government sector

10 October 2016
RSM has a long history, both in Australia and overseas, of providing a wide range of value added services to local government.

The benefits of outsourcing or co-sourcing the internal audit function

26 July 2016
As well as being cost-effective, augmenting or completely replacing the internal audit function can deliver improved outcomes