At Mazars, we have a wealth of experience of internal audit. We understand that your internal audit will depend on the nature, scale and complexity of your organisation and the range of its operations. At Mazars we do not believe in a ‘one size fits all approach’ - every business is unique.
Our tailored internal audit work can include:
- reviewing your existing internal audit function to ensure compliance with all regulations (FSA, Sarbanes-Oxley, Department of General Services) and ensure best practice
- advising on the options and arrangements available for your internal audit
- acting as your outsourced audit function
- developing risk based internal audit strategies and work plans
- advising on how to improve your internal audit methodology
We get to know your business with a thorough understanding of:
- your organisation’s objectives and performance targets
- your organisation’s operations, systems, structures and regulatory environment
- your organisation’s risk assessment process
- your internal control system and risk response mechanisms
- the sources by which the board receives assurance over risk management, internal control and governance
- the board’s immediate priorities
We can provide the following levels of service:
Fully outsourced Our Mazars Insurance Internal Controls (IIC) team can complete whole assignments for you. We will plan and prepare for each review, complete the on-site fieldwork and provide the findings of our work.
Team substitutions Prior to audit planning we can provide a team of specialists, including partner and managers.
Manpower substitutions Mazars can provide you with individuals experienced in carrying out internal audits. They will complement your in-house team and take direction and guidance from your managers. The grade and experience of staff will be tailored to your needs.
Review and recommend Where your management time is limited, we can manage your team, review draft reports and communicate the reported issues to your audit committee.
The benefitsOutsourcing or co-outsourcing your internal audit will mean:
- value for money and peace of mind
- ongoing improvements in your service
- identification of risks
- compliance with legislation, regulation and best practice
- sound governance
- strengthening overall controls to manage risk
- enhanced early warning mechanisms
- removal of unneeded systems
- positive effects on your shareholder value
