Internal Audit Services
The internal audit group of Wilmington Risk Services practice has served a number of businesses including large enterprises around the world. Our diverse capabilities and expertise have enabled us to provide internal audit services to organizations of all sizes within all industries.
Our internal audit engagements range in scope from a risk assessment to the completion of special projects to complete outsourcing of your internal audit function.
Our Internal Audit service assists clients with:
- Internal Audit (IA) reviews on behalf of the client as part of the client’s IA plan, including IT internal audit and IA special reviews (for example IA data analytics),
- IA Co-sourcing – IA planning, risk assessment, execution and reporting with the oversight of a client-side Head of IA
- IA Outsourcing – IA planning, risk assessment, execution and reporting without the oversight of a client-side Head of IA
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.
The value of internal audit
The IA Outsourcing / Co-sourcing service is designed to help Chief Audit Executives deliver on their IA plan, provide value to the business, assist with compliance requirements, and handle any other management requests. Depending on the level of co-sourcing, Wilmington can also assist with the risk assessment and IA planning process. Full outsourcing, heavy co-sourcing and moderate co-sourcing services are provided for more mature audit departments.
Who needs internal audit?
Clients with a requirement to strengthen their control environment due to planned business changes, error, fraud, legislation, restructuring, and/or business development. Alternatively, it could appeal to organizations seeking to supplement their internal audit departments with skilled resources, or organizations seeking to establish an internal audit department by buying rather than building.