We can support you with a vast corporate resource to help all levels of your management team achieve their key business objectives. We give assurance on the efficiency and effectiveness of operations, compliance with laws and regulations, accuracy and reliability of information, and in the safeguarding of assets and interests.
As an outsourced contract provider, we report through your finance director directly to the audit committee. We work in partnership with your external audit provider in the delivery of this service.
Internal audit – we will compile a risk-based annual plan and analyse the adequacy of your internal controls and the efficiency of all your operations to give recommendations on ways to improve.
Anti fraud – we can investigate and recommend on the prosecution of reported cases of suspected internal fraud by staff, contractors and customers.
Follow up – we track the implementation of audit and investigation recommendations by line management, in accordance with our contract arrangement.
Consulting – we are a source of impartial and professional advice. We have developed expertise in a number of specialised areas such as internal controls, risk management, best value reviews, systems development, financial regulations, computer systems and contract management.
Internal audit charter
An internal audit is an independent activity which aims to add value to and improve a company’s operations. It helps businesses accomplish their objectives by evaluating and improving how they manage risk as well as how governance processes are controlled.
According to the Standards for the Professional Practice of Internal Auditing and the Code of Ethics, audits should be objective and carried out without any compromises made on the quality of the results.
The reason for, authority and responsibility of internal audit activity should be set out in writing, and approved by senior management and the board, audit committee or appropriate authority.
The charter should define the internal audit position within the company, authorise access to records, personnel, and physical properties relevant to the performance of engagements, and define the scope of internal audit activity.
A charter facilitates assessment of the adequacy of the internal audit activity purpose, authority and responsibility. The purpose, authority and responsibility should be defined and communicated to establish the role of internal audit activity and produce a basis for management and the board in evaluating the operations of the function.