The internal audit function, as the third line of defense, plays a critical role in safeguarding your organization’s assets, ensuring operational efficiency and effective compliance and risk management. NRIA’s highly experienced audit/assurance professionals can turn the audit into a competitive edge with efficient deliverables that improve organizational governance and stakeholder confidence.
- Internal Audit Function Assessment
- Evaluating the effectiveness of existing internal audit functions and identifying areas for improvement.
- Internal Audit Planning and Risk Assessment
- Collaborating with team to develop a risk-based internal audit plan aligned with organization’s strategic objectives and key risks.
- Conducting comprehensive risk assessments to identify areas of potential control weaknesses and areas for improvement.
- Internal Audit Execution and Reporting
- Performing independent, objective internal audits across various areas like financial crimes compliance, financial reporting, operational processes, IT controls, and compliance.
- Issuing clear, concise, and actionable internal audit reports with recommendations for improving internal controls and mitigating identified risks.
- Internal Audit Follow-Up and Remediation
- Tracking the implementation of internal audit recommendations and ensuring timely remediation of identified control weaknesses.
- Providing ongoing support and guidance to management on implementing effective corrective actions.
- Continuous Monitoring and Internal Audit Methodology Development
- Establishing a continuous monitoring program to identify and address emerging risks and control deficiencies.
- Assisting development and implementation of robust internal audit methodology that aligns with best practices and industry standards.