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Internal Audit

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.