Internal audit with BDO

Minimise risks, improve processes

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Internal audit with BDO

What is internal audit?

The internal audit (IA) function is responsible for checking your company’s internal processes with the aim of improving them and minimising potential risks. A professional internal audit ensures that your business processes are transparent, compliant and efficient, thereby minimising your exposure to financial and operational risks.

BDO's experts can support you in setting up, refining and optimising your internal audit function. You benefit from our state-of-the-art audit methodology and objective evaluation of your internal processes.

With 42 offices across Switzerland, BDO is always close by – and ready to deliver internal audit services that strengthen your organisation for long-term success. Our physical locations are complemented by our digital branch, home to efficient, flexible, personal services online, wherever you happen to be.

Internal audit with BDO: Three key benefits


Lokal verankert - international vernetzt

Local roots
internationally connected

With over 40 offices in Switzerland, BDO is always close by – from Zurich to Geneva, from Bern to St. Gallen. At the same time, you benefit from the global expertise of our international network spanning over 160 countries. This is how we combine local know-how with internationally established auditing standards.


Interdisziplinäre Fachkompetenz

Interdisciplinary
specialist

Drawing on extensive knowledge in audit, risk management and compliance, our specialists offer a holistic perspective on your internal audit and help you minimise risks.


Vorbereitet für die Zukunft

Ready for
the future

Internal audits are much more than just a control mechanism – they create added value. We help you not only to review your internal processes, but also to continuously improve them. Applying the latest analytics capabilities and strategies tailored to your specific needs, we position your company for future success.

Audit obligation: Who is required to carry out an internal audit?

There is no general legal requirement for companies in Switzerland to set up an internal audit function. The only exception is banks and organisations subject to supervision by the Swiss Financial Market Supervisory Authority (FINMA), including insurance companies and securities dealers.

However, many companies voluntarily make use of internal audits as a strategic tool for proactive risk mitigation and process optimisation. Internal audits are particularly valuable for companies above a certain size or with complex structures, where an independent audit can be a critical success factor.


Interne Revision

We recommend an internal audit for the following companies:

  • Listed companiesthat must meet high transparency and compliance standards.
  • Banks, insurance companies and financial service providersthat are subject to specific regulatory requirements.
  • Companies with complex structures or international locations that want to have their business processes independently verified.
  • Organisations operating in regulated industries or with sensitive datathat want to reduce risk factors.
  • Family businesses and SMEsseeking to ensure sustainable growth and security.


Still unsure whether an internal audit makes sense for your company?
Get in touch with us – we'll be happy to advise you and find the right solution for your company.

Who carries out the internal audit?

As a rule, internal audits are carried out by company employees who are specially trained for this task – the internal audit department. To maintain the integrity of the audit process, it is crucial that internal audits are conducted objectively and independently.

Companies that do not have their own audit department may choose to outsource internal auditing to an external service provider specialising in this field.

BDO Switzerland provides comprehensive internal audit services – always tailored to your company’s individual needs.

Our internal audit services

Whatever your situation, our audit experts are here to help you with hands-on support.

Ousourcing

Internal audit outsourcing

Are you looking for an independent and objective internal audit that allows you to focus on your core business? You can rely on us. And benefit from our experts’ fresh, neutral perspective.

Co-Sourcing

Internal audit
co-sourcing

Do you need targeted support from external experts? Co-sourcing allows you to enhance your existing internal audit resources to include our independent expertise.

Interne Revision

Establishing an
internal audit function

As your company grows and processes become more complex, we can help you set up an effective audit function that allows you to keep control of your processes and risk management strategies at all times.

Interne Revision ad interim

Interim internal audit

Is your internal audit function in a transition phase or being restructured? BDO's experts can temporarily take over the management or execution of specific audit aspects at short notice, guaranteeing the highest quality and assurance during this transition period.

External Quality Assessment

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

We assess the efficiency and effectiveness of your internal audit function and identify potential for improvement. In doing so, we ensure that your audit complies with international standards.

Internal Audit IT Services

Internal audit for IT

Our IT audit services offer you an independent and objective assessment of your IT processes and controls. We review your IT governance, outsourcing agreements, change management processes, and IT security and data protection needs to make sure your IT infrastructure is both secure and compliant.

What does an internal audit involve?

Review of effectiveness of risk management

We evaluate the effectiveness of your risk management to ensure that potential risks are identified and mitigated at an early stage.

Review of controls

We check the existence and effectiveness of your internal control system (ICS) and ensure that your controls are functioning reliably.

Review of management and monitoring processes

Our experts evaluate the effectiveness of your management and monitoring processes to ensure compliance with internal guidelines and transparency within your organisation.

Optimisation of your audit processes

We help you improve your risk-oriented audit planning, implementation and reporting processes.

Preparation of audit plans

We prepare a detailed audit plan covering the risks and audit areas of relevance to your business.

Preparation of an audit report

Finally, we prepare an audit report that summarises the audit results and sets out specific recommendations for action at your company.


Discover our wide range of audit services, including statutory audits and limited statutory examinations.

Internal audit: Why is it worth seeking support from external specialists?

Getting support with your internal audit from external experts – such as the BDO team – offers numerous advantages, including:

  • Increased objectivity and credibility
  • Strong control environment
  • Improved governance and risk management
  • State-of-the-art tools and audit methodology
  • Flexibility with the option for remote audits
  • Targeted performance of audit procedures on specific topics, projects, fraud and IT
BDO-offices

Local to you

Our experienced auditors are available throughout Switzerland to answer any audit-related questions you may have. With 42 locations in cities like Zurich, Berne, Lucerne, Solothurn and Aarau, there’s bound to be a BDO office near you. You choose whether you prefer to meet us online or on site. We look forward to working with you.

DISCOVER OUR OFFICES

Tailor-made solutions for your Organization

SMEs

Small and medium-sized entities that voluntarily carry out internal audits can count on our support with:

  • Setting up or optimising the internal audit function
  • Identifying and assessing internal risks
  • Introducing an internal control system

Public sector

We deliver in-depth and practical support in the following areas:

  • Adherence to public law requirements and compliance guidelines
  • Identification of inefficiencies
  • Optimisation of internal control systems (ICS)
  • Preparation of an audit report

NPO

We share our expertise with non-profit organisations (e.g. associations or foundations) in the following areas:

  • Support in complying with legal and regulatory requirements
  • Risk analyses and process controls
  • Preparation of an audit report

Banking sector

Banks are legally required to conduct internal audits. To minimise risk, they need a strong internal audit function covering areas such as:

  • Verification of compliance with banking-specific regulations
  • Audit of risk management systems and compliance controls
  • Support in identifying and remedying weaknesses in internal control systems (ICS)
  • Preparation of an audit report

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Frequently asked questions about internal audit

What is the difference between an internal and external audit?

Internal and external audits are two types of company review function. They differ in terms of their objectives, how they are performed and who conducts them:

An internal audit examines a company's internal processes, systems and controls to identify weaknesses and improve efficiency. It is usually carried out by the company's own employees, who are specially trained for this task. Internal auditors often work preventively to minimise risks and ensure compliance with regulations and internal rules.

An external audit, on the other hand, involves examining a company’s financial reporting to ensure that it complies with legal requirements and generally accepted accounting standards. It is carried out by an independent third party, usually an auditing firm, with the aim of creating trust in the company’s figures.

What’s the difference between internal audit and compliance?

Internal audit and compliance are both critical components of a company's risk management but they have different roles and focus areas.

While the internal audit team reviews the company's overall processes to identify potential risks and weaknesses, the compliance department focuses more on adherence to legal and regulatory requirements and regulations. However, both functions work closely together.

What does the internal audit report cover?

An internal audit report is a written report issued by the internal audit department. It systematically summarises the results of the audit with a detailed analysis of the processes and risks audited, any weaknesses identified, and recommendations for improvement.

This audit report is submitted to the executive committee and serves as an important basis for strategic decisions and the continuous improvement of business processes.

In its role as an internal auditor, BDO strikes the right balance between a critical approach, constructive dialogue, and cooperative solution-finding. In comparison, they impress me with their prompt availability, collaborative approach, and swift decision-making. I look forward to continuing our collaboration.
Serge LavilleCFO Valiant

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