Internal Audit
Internal Audit
The internal audit function encompasses all aspects of an organization – its business and operating structure. So that you are confident that your key business risks are being addressed, P&A’s internal audit services team can work with you to assess your corporate level risk, identify the areas of greatest vulnerability, and develop appropriate work plans and audit programs to mitigate these risks.
Full outsourcing of IA function
We can take over your entire internal audit
function if you do not have an existing internal audit (IA) activity, and help
your management team assess the adequacy and effectiveness of established risk
management, control and governance processes, as well as promote continuous
improvement of your company’s operations.
Co-sourcing with the existing IA function
We can work with your existing internal audit
team by helping the team accomplish tasks required by stockholders, the
management, regulators, creditors and other stakeholders. This may also include
assisting your internal audit personnel in areas where they may lack expertise,
such as information system audit and fraud and forensic. We can also cross-post
our staff to complement your IA function with the guarantee that the people who
will be assigned to your company will be selected based on the qualifications
and expertise you require.
Internal audit transformation
We can help you assess your IA function and
determine gaps between your current IA practices and the best practices in a
risk-based audit approach. We will conduct classroom sessions on modern
concepts of business process risk assessment, the Committee of Sponsoring
Organizations of the Treadway Commission (COSO) internal control framework, and
corporate governance. Your internal auditors will then undergo hands-on
training by performing the IA process under the supervision of our people. The objective
of the engagement is to help develop the skills of internal auditors, and thus
enhance the value of the IA activity to your organization.