The corporate world faces severe pressure to keep up the expectations of the shareholders, customers, and other stakeholders. Meeting the expectations is only possible when robust systems and processes are in place checked by balanced controls. The management needs a good assurance system to help the company put adequate checkpoints and help them reach their vision, objectives, goals and expectations.
The first change in the current century is the usage of internal audit by the top management for the required management assurance. They started looking at internal audit as a prime value-add group to achieve “value-add across the board”.
Re-engineering of IA Department
The management needs a good assurance system to help the company put adequate checkpoints and help them reach their vision, objectives, goals and expectations. The first change in the current century is employing internal audit for management assurance. They started looking at internal audit as a prime value-add group to achieve “value-add across the board”.
Changing definition of internal audit as per IIA , Florida, new expectations from internal audit departments in the minds of top management etc., are the challenges faced by the internal audit departments these days. The new corporate governance requirements and SEBI code also put a major thrust on improved styles of internal audit department. In this situation, internal audit department has to reengineer the way it performs its duties.
At this juncture, B’Risk can provide the right value addition to reengineer internal audit systems to convert them world class. B’Risk’s has developed proprietary solution to provide you with reengineering of internal audit department services.
Our strong methodology also includes taking the input of the top management, process management and audit management to design a solution that means value addition. We do not start with direct reengineering but with a quality assurance review of current internal audit structure to understand areas of improvement.
Our deliverable will give a road map to make the necessary audit process improvements that gives a big seat for ready-made implementation ability of the audit system recommended.
Drawn from the vision of the company and drilled towards specific audit expectation, your organization can be benefited from our approach. The team is designed to meet the specific audit expectations.
Capitalizing on our depth of knowledge in industry and internal audit best practices; internal audit systems development methodology; and proprietary technology tools _ we focus on the building of controls into operational processes.
Value add:
Become a value-added partner with management.
Audit objectives aligned with corporate objectives.
Providing Business risk based audit services with long term audit plans
