Internal audit

Internal Audit

Internal audit

Get expert independent assurance on the effectiveness of your frameworks, policies, practices and processes.

Gain absolute assurance with an internal audit

Internal audit

Internal audits are a valuable risk mitigation strategy. They provide assurance that your organisation’s frameworks, policies, practices and processes are effective, and actively seek out gaps and areas for improvement. This makes it possible to identify and eliminate barriers to success and optimise operational efficiency for greater productivity and cost savings.

For an audit to be effective, it should be conducted by an independent third-party with deep auditing expertise and a broad understanding of best practice auditing methodologies.  

The audit process generally includes these stages:

  1. Information gathering
  2. Analyses and risk assessment
  3. Regulatory compliance review
  4. Validation of findings
  5. Recommendations for improvement
  6. Implementation of improvement initiatives
  7. Follow up and review

How we can help

Using RSM’s state-of-the-art proprietary tools, we provide a comprehensive outsourced internal audit solution including planning, risk assessment, reporting, and issue tracking and resolution.

Our audit specialists have extensive experience across an array of industries and use agile methodologies with a collaborative approach to help you develop and implement a strategy that aligns with your business goals and growth objectives.

We work with you to:

  • augment or train your internal audit team
  • establish an internal best practice audit function
  • conduct quality assurance reviews
  • assess compliance
  • monitor vulnerabilities and opportunities in real time
  • connect you with experts in areas of weakness, such as fraud or security
  • provide corporate governance advice
  • deliver risk management workshops

We can also equip your organisation with a valuable internal audit toolbox. Auditor Assistant is our advanced, cloud-based software that enables your internal audit team to do more with less – increasing efficiency and effectiveness across all internal audit activities.

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Services 

Internal audit services

  • Internal audit
  • Establishment of internal audit function
  • Quality assurance reviews
  • Risk consulting
  • Compliance
  • Corporate governance advice
  • Risk management training and workshops

Internal audit focus areas

Internal audit focus areas

  • Assisting in the identification of strategic, operational, financial, and behavioural risks
  • Providing stakeholders and managers with complete assurance, both retrospective and prospective, that key systems and controls are in place and working effectively
  • Maximising your in-house resources to ensure they are used effectively
  • Real-time monitoring of key of threats and opportunities to your organisation
  • Providing value-generating opportunities and insights to strengthen your risk management, internal controls and support provided to employees
  • Allocating a team of qualified, dedicated internal audit and risk advisory experts led by a Partner committed to client service

Internal audit & related services

Internal audit & related services

  • Fully outsourced, co-sourced and bespoke internal audit services
  • Assistance in establishing an internal audit function
  • Internal audit quality assessments
  • Design of customised internal audit review scopes and approaches, aligned to the standard and best practice of the Institute of Internal Auditors (IIA – Australia), which meet your specific needs and requirements
  • Corporate governance advice
  • Audit committee training
  • Facilitation of risk management workshops including risk appetite statements and the associated implementation methodologies

For more information

Leverage our internal auditing expertise to deliver rapid improvements to your business today. Get in touch with your local RSM office.

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