Internal audit Do I know what risks I am taking and which ones I am willing to take?

What is Internal Audit?

Internal Audit (IA) is an independent, objective assurance and consulting activity designed to add value and improve the operations of organizations by providing an independent opinion on the effectiveness of internal controls and risk management.

Increasing regulations and market pressures require organizations to provide independent, transparent and objective assessments of the effectiveness of their internal controls and risk management.

Grant Thornton provides risk-based internal audit services that deliver insightful information to help create future-proof and sustainable organizations. At Grant Thornton, we offer a wide range of internal audit services and tailor our services to the specific needs of our clients.

We offer:

• Outsource Internal Audit
• Co-Source Internal Audit 
• Interim Head of Internal Audit 
• Integrated solutions for internal audit services 

Outsource internal audit?

Our outsourcing approach focuses on providing a first-class IA function and working with the Board and Audit Committee to plan and execute an audit plan designed to comprehensively cover key risks. The approach is flexible and can be tailored to your organization's specific needs.

Grant Thornton is the third party responsible for the methodology, quality and management of the audit planning, conducts fieldwork and reports to the Audit Committee, allowing management to focus on other priorities.

Benefits

• Access to experts for practical knowledge in internal control and risk management
• Ability to benchmark and share best practices across industries and sectors
• Full independent insight, while maintaining a close working relationship with the company, while providing an adequate level of impartiality and independence for assurance and advisory services
• Project continuity in the event of a change of professional.

Internal audit co-source

Our co-source approach is designed to support our clients' existing Internal Audit function providing the assurance and advisory services the organization needs. Our approach is flexible and adapted to the needs of the existing internal IA function.

Benefits

• Access to the experience and knowledge of highly qualified specialists (SMEs) focused on adding value and improvements according to the needs of the internal audit team (internal)
• Access to IA methodologies and technologies
• Market updates, sources of industry experience and insight into current scenarios
• Knowledge transfer directly to your internal audit teams

Interim Head of Internal Audit

One of our Senior Internal Audit specialists can lead our clients' Internal Audit function when needed and work with the Senior leasership, board and audit committee to ensure the organization establishes its IA functions and finds a permanent Head of IA.

Integrated solutions audit services

In addition to outsourcing and co-sourcing models, our IA services are designated to provide our clients with strategic and operational risk oversights, to help organisations enhance their internal control effectiveness and enable them to adapt and act faster in an ever changing risk environment.

• Internal audit automation (continuous audit)
• Application for audit analysis.
• Internal audit of information technology (IT)
• Knowledge transfer through formal internal audit training
• Conducting thematic audits (including culture, ESG, Cybersecurity)
• Loan personnel: our professionals work in client teams for specific periods of time.
• Project quality assurance
• Implementation and support in implementing the Sarbanes-Oxley Act (SOX) plan.
• Review of governance and board effectiveness