Without good internal controls the possibility for internal fraud increases, costly errors may go undetected, and policies and procedures may not be followed. Implementing an internal audit function aids in assessing the effectiveness of controls and helps you navigate and avert dilemmas associated with a lack of internal controls.
- A review of operational effectiveness and efficiency of business processes;
- Reliability of information systems and the quality of the decision-making information produced by those systems;
- Safeguarding assets against loss, including losses resulting from management and employee fraud; and
- Compliance with organization policies, contracts, laws, and regulations.
The internal audit function helps the organization achieve its business objectives by evaluating and improving the effectiveness of risk management, control, and governance processes. We are flexible. We can serve as your full-service, outsourced internal audit provider or we can work together with your in-house internal auditor to provide a co-sourcing arrangement to meet your needs.