For many organisations, outsourcing some or all of your internal audit is the most effective approach to achieving a high-performing internal audit function.
As an internal risk audit monitors the effectiveness of the internal control processes, it assists management with the identification of processes and procedures that pose a risk and require attention. Additionally, an internal risk audit helps to identify opportunities for improved efficiency and effectiveness and can also ensure compliance with statutory laws and regulations.
This enables businesses and organisations to compete more effectively in increasingly competitive markets in which barriers to entry have been lowered and tighter competition has ensued.
As part of BDO’s risk advisory services, our specialists provide internal risk audits for organisations across all industries and sectors to identify deficiencies in control and operational procedures, and to provide recommendations that help to improve procedural effectiveness.
How BDO can help
As one of the country’s largest professional services firms, BDO has expertise in all specialist areas required for a full-scope internal audit. The breadth of expertise available within BDO means we structure our teams to give you the best mix of specialist skills and experience as they apply to:
- Risk-based audit planning
- Financial audit
- Compliance audit
- Operational audit
- Technology and project assurance
- Performance audit
- Service Organisation Control Reporting (SOCS).
Our internal auditing service also supports boards, audit and risk committees, and executives in:
- Establishing a first-time internal audit function
- Conducting an independent evaluation of internal audit functions
- Providing audit and risk committee oversight, assurance and advice.