How internal should an internal audit be?
Every business knows that an effective internal audit can reduce risk, improve the bottom-line and help to avoid looming issues. The problem is that internal staff often lack the time, resources and specialist skills you need to do it effectively. BDO Stoy Hayward is on hand to help.

That doesn’t mean to say you should outsource your entire internal audit. Indeed our experience is that involving internal staff is much more likely to gender ownership of the changes identified or actions required as a result of an internal audit.

What we can do is to help you plug the skills gap that you may have in-house and to help you to organise your internal audit function for maximum efficiency. We can help you to set up a new internal audit function, to benchmark your internal audit function and to run it with the necessary level of outsourcing.

Out internal audit team have an understanding of risk management based on years of experience. They are practised in analysing management accounting and financial accounting systems and will quickly add value in developing new ways of working. They are able to contribute to IT and process discussions and will introduce IT-based tools and techniques to reduce risk and deliver performance improvements across the enterprise.

If you are thinking about internal audit procedures, management accounting or a financial accounting review, why not ask us to give you an external independent opinion?