An effective and smooth-running internal audit is imperative for large corporate and public sector organizations. It helps to pinpoint and manage risks and evaluates the effectiveness of a company’s internal systems, governance, and accounting processes.
However, it is not always possible for an organization to keep its own internal audit department sufficiently staffed or up to date with the relevant skills or experience to consistently deliver a value-added service. In some cases, the decision is taken to outsource this service in full while other businesses look to have specialist external providers to supplement and assist their own resources.
An outsourced internal audit gives you access to a full team of specialists. This is where you can count on the outsourced internal audit services of RSM auditors. At RSM, we offer a range of internal auditing services that are designed to cover every aspect of the review and assessment process. We are well-versed in current procedures and have a comprehensive skillset in play across our team to ensure your audit is covered to the highest standards at every stage.
RSM’s comprehensive internal audit services
Irrespective of the delivery model, an internal audit function that is not delivering effectively is a huge burden on organizations that face statutory, regulatory or governance requirements, or commercial pressures to achieve business objectives. If your current auditing processes are not working as they should or you need more resources in order to achieve the results you need, choosing an expert team to provide internal audit solutions can be hugely beneficial.
Selecting an experienced team that takes a risk-based approach, such as the skilled professionals at RSM, you are sure to receive internal audit services that look at the risk of various areas. Significantly, these auditors will also factor in the time to be spent on the risk levels, giving you a clear plan of action.
How RSM’s internal auditing works
Here is a step-by-step look at what to expect from an audit by RSM:
An internal audit performed by RSM begins with on-site visits at significant locations throughout the organization. Here, the auditors perform in-depth business diagnostics and assessments of operations, accounting policies and internal controls to assess opportunities and risks.
Reporting to management
Stakeholders expect the internal audit will provide assurance that their information technology systems used in the organization, and the processes supported by those systems, are functioning as intended. This exercise results in a report to management with suggestions for action.
Suggestions for improvement
The dialogue around this report with management forms the foundation of effective and harmonious integration of the internal audit team within the organization. Instead of finding faults, RSM auditors focus on suggesting improvements.
Following this internal auditing process means that the findings and guidance provided by RSM can be implemented not only in the short term but for years to come. We take a holistic approach, embedding ourselves in your organization in order to identify areas of concern and provide accurate business assessments and diagnostics. So, by acting on the advice of our auditors, subsequent audits are likely to be smooth and straightforward.