Performing Audit Work

Audit Department is providing you with experienced audit managers to perform end-to-end unit audit work for the agreed expertise area. This can include audit scoping, deskwork, fieldwork, sharing of best practices, recommendations, opinion forming and reporting.

Audit Departments audit services are guided and directed by it's Internal Audit Manual. The manual is used by all internal audit staff in effectively planning, conducting, reporting, recording and controlling internal audit assignments.

Internal audit assignments are carried out in accordance with the policies stated in this manual, the professional standards issued by the Information Systems Audit and Control Association (ISACA).

Audit Department uses a Risk Based Internal Auditing (RBIA) methodology. The objective of RBIA is to provide independent assurance to our customer that:

• The risk management processes which management has put in place within the client organisation (covering all risk management processes at corporate, divisional, business unit, business process level, etc.) are operating as intended.
• These risk management processes are of a sound design.
• The responses which management has made to risks which they wish to treat are both adequate and effective in reducing those risks to a level acceptable to the company.
• That a sound framework of controls is in place to sufficiently mitigate those risks which management wishes to treat.

Risk based internal auditing starts with the system objectives and then focuses on those risks that have been identified by management that may hinder their achievement. The role of our audit services is to assess the extent to which a robust risk management approach is adopted and applied, as planned, by management across the company to reduce risks to a level that is acceptable to the Council (the risk appetite).  While the Internal Audit Service’s main contribution is to provide assurance on management’s treatment of risk (through governance and control processes) it may also advise management on other aspects of their response to risks such as decisions to terminate, transfer or tolerate risk.

Audit Department is offering you sourcing for internal audit work, regardless whether you are planning unit audits, process audits or audit theme reviews. We proudly offer you any combination of the above building blocks but are also flexible to discuss your dedicated requirements. Please contact your nearest Country offices in London, Hamburg and Milan.