Internal audit services

Greater complexity (from a technical viewpoint or due to changes in regulations) mean outside parties are being brought in for a ‘second opinion’ or ‘fresh view’ (e.g. to cater to compliance rules). This is certainly the case in internal audit, where outsourcing or co-sourcing is a common strategy.

 

Your challenges

Belgium’s 2009 Code for listed companies and comparable legislation for financial institutions increase the burden of responsibility on officers’ shoulders. How do you manage to add stakeholder value?

 

How PwC can help you

We make it easy for you to get the help you need in order to be compliant and transparent in addressing the challenges of GRC. Through two single points of contact you have access to our team of ‘hands-on’ specialists with practical experience in risk assurance. 

Our unique model

We assist all kinds of companies (from financial services to the industrial and public services sectors) in internal audit outsourcing, co-sourcing and staff augmentation. Our unique model guarantees the right balance of internal audit skills, technical know-how and industry knowledge concomitant with your needs and is aimed at increasing stakeholder value.

Other services we offer:

  • we perform external quality assessments of internal audit departments, benchmarking them against best-in-class organisations;
  • we assist in establishing and restructuring internal audit functions;
  • we help increase the efficiency of internal audit departments by supporting the selection and implementation of internal audit tools and technology;
  • we train internal auditors across all areas of expertise and acquaint them with the most-recent developments in auditing standards, methodologies and tools.

 

Our credentials

External quality assessment of an internal audit department

We reviewed a large bank and insurance group, aimed at assessing the current performance level of the group’s internal audit. Our review included:

• interviews with 32 key business and internal audit stakeholders

• surveys of 226 group-wide internal audit staff members

• a detailed review of the group’s internal audit activities (including reviewing a sample of audits)

Our final conclusions, including detailed recommendations, were presented to the group’s audit committee and the core team of internal auditors at a workshop.