From Compliance to Fresh Insights into Risk
New regulations and increased compliance pressures. Emerging risks and threats. The need for fresh perspectives and insights.
It’s no wonder that the profile of internal audit groups has been raised at companies across a wide range of industries. However, many organizations lack sufficient audit skills and resources to meet the demands and challenges of today’s complex risk management and compliance landscape. The key question to ask – what’s the best way to meet new requirements and establish strong auditing capabilities without disrupting the business or breaking the bank?
Companies that can master audit capabilities stand to benefit from more relevant finding and higher-value insights into the business, quicker and less intrusive audit processes, and more buy-in from management through highly credible results.
Internal Audit Support from Infinitive
Infinitive Insight’s internal audit support services help companies establish audit programs or extend their capabilities as a “co-sourcing” partner. Our internal audit support offers a proven and practical approach, senior experts and tailored, high-value solutions that ensure you can comply with new requirements and emerging standards and position audit teams as business enablers – not performance roadblocks.
Typical deliverables and activities include:
- Full range of audit types – financial reporting, enterprise risk, operational risk, fraud, compliance, corporate governance
- Planning – charter development, stakeholder assessments, budgeting and financial planning, staffing and skills assessment
- Governance – roles and responsibilities, audit committee and organizational structures, reporting flows, communications protocols
- Process design & mapping
- Risk assessment & gap analysis
- Tools & technology assessments – GRC in the Cloud, SaaS, reporting tools and dashboard, data repositories, requirements definition
- COSO updates to internal controls
- Compliance monitoring
For companies launching an audit function, we cut a lot of the initial overhead by leveraging our knowledge management library and providing the foundation based on an audit charter, risk assessment, audit plan, and audit programs. Typically, we can establish new audit capabilities in 60 days or less.
For companies seeking to revamp or enhance existing audit functions, we provide support during the risk assessment process to identify emerging risks in the current business landscape.