Insufficient capacity or absence of an internal audit function
Non-compliance with the Global Internal Audit Standards
Ensuring the functionality and effectiveness of the internal control system
Low effectiveness and added value of the audit
Implementation and testing of SOX/ICFR controls
Insufficient auditor specialisation for technically demanding audits
Support for the company’s strategic objectives
Development of internal audit
• Complete outsourcing of internal audit
• Execution of audits according to the audit plan or management requests (co-sourcing)
• Provision of specialists for technically demanding audits (IT, cyber security, risk management, ESG, etc.)
• Advisory (risk analysis, planning, scoping of individual audits, etc.)
• Implementation and optimisation of controls under SOX/ICFR
• Testing of the design and effectiveness of controls
• GAP analysis and proposal of remedial measures
• Cooperation with external auditors
• Verification of compliance with the Global Internal Audit Standards
• Assessment and benchmarking of maturity against comparable companies and best practice
• Recommendations to increase audit effectiveness
• Recommendations for a suitable internal audit model
• Design of organisational placement, methodology and scope of activities
• Establishing methodological frameworks and training auditors
• Optimising the audit to comply with the Global Internal Audit Standards
We performed an independent external assessment of the internal audit department at a major Czech energy company and its compliance with the Global Standards. The output was a quantified maturity assessment of the department and benchmarking against comparable companies in the Czech Republic and abroad. Additionally, we proposed several practical recommendations and set priorities to further increase the quality of internal audit.
We have a long-term cooperation with the team of a major Czech distributor of pharmaceuticals and a pharmacy network in carrying out planned and ad-hoc audits. We provide expert capacity enabling the client to meet the annual audit plan and the demanding expectations of company management for the services delivered.
We introduced SOX/ICOFR requirements into the control environment of an international group operating in the automotive industry. We mapped the internal control system, performed a GAP analysis and proposed measures to achieve compliance with the group requirements. We subsequently tested the measures and individual controls. The output was an agreed matrix with the testing results of the design and the effectiveness of controls.
We provide comprehensive internal audit services for a company managing a closed-end investment fund. We prepare and implement the strategic internal audit plan, a comprehensive risk analysis and an assessment of the effectiveness of the internal control system.
