• Internal Audit / Quality Assurance

Internal Audit / Quality Assurance

The internal audit function plays an important role in identifying risks, enforcing controls and ensuring transparency. Its activities contribute to a strong internal control environment, improved governance and risk management processes, and help an organisation to accomplish its objectives and strategic success. BDO can support you in the following areas:

 

Audit methodology

An effective and efficient audit methodology is the key success factor for a value adding internal audit function. We assist you in developing and refining your audit methodology as well as optimising your risk-based audit processes.

 

Co-sourced & outsourced internal audit (IA)

Our services range from setting up and reviewing internal audit functions, through to providing outsourced and co-sourced internal audits, including process audits (financial and non-financial processes), project audits, 3rd party audits, strategic audits, and compliance audits. We can also help you out with interim staffing.

 

External quality assessments (EQA)/Self-assessment with independent validation (SAIV)

How efficient and effective is your internal audit function? Does it meet your organisation’s requirements?

Beyond assessing conformance with IIA standards (i.e. the International Professional Practices Framework (IPPF)), an EQA / SAIV aims to evaluate IA's efficiency and effectiveness in carrying out its mission and identify opportunities for improvement.

 

Soft control audits

Soft controls focus on corporate culture and the behaviour of Management and employees - both factors have a significant impact on the effectiveness of internal controls. Experience shows that hard controls alone are not enough to prevent economic crimes.

BDO has developed a tool that provides a systematic insight into behavioural patterns within an organisation. The identified behavioural patterns of Management and emploees can have a positive or negative impact upon the corporate culture. Findings from soft control audits help to systematically promote self-responsibility at all levels and understand and manage risks in its entirety. This paves the way for better internal controls and you will benefit from an increased cultural awareness.

 

Risk management

In a world full of uncertainty, effective risk management is an essential enabler of corporate success. We can support you in setting up or improving your risk management framework, and /or the risk management of a specific project. ► learn more