Increasing demand for internal audit functions to take broader and more strategic roles within organizations makes evident the high profile that internal audit has with executives and boards today. As a result of this increased profile, internal audit departments and leaders are searching for ways to broaden their skill sets and scope of influences. Today’s leading internal audit functions ensure their organizations becomes more innovative and explore new technologies, identify and mitigate emerging risks, develop creative solutions to complex business challenges and encourage best practices to enhance business functions.
BnC’s deploys multidisciplinary teams of professionals experienced in financial and operational internal auditing, IT, fraud analytics and risk assessment, shared services, finance management, treasury and the supply chain to augment and enhance an organizations’ existing internal audit capabilities.
Audit Committee advisory
Audit committees often need to consult independent advisers on matters related to internal audit, business risk management and corporate governance.
BnC has the experience and expertise to advise audit committees on a range of topics including:
Structure and effectiveness of internal audit-related activities
Risk assessment evaluation
Continuous Auditing and Monitoring
Continuous Auditing (CA) and Continuous Monitoring (CM) are automated feedback mechanisms used respectively by Internal Audit or Management to monitor IT systems, transactions and controls on a frequent or continuous basis, throughout a given period.
Companies who deploy Continuous Auditing (CA) can leverage technology to more efficiently analyze risk data on a frequent basis. This approach helps the detection of anomalies, outliers, inconsistencies and other factors to more efficiently focus audit resources.
Continuous Monitoring (CM) provides management with information on key performance metrics in close to real-time, allowing them to have better insight into issues as they arise, thereby improving their ability to manage risks and opportunities.