The evolving landscape of corporate demands has placed internal audit functions at the forefront, necessitating a broader and more strategic role within organizations. This amplified significance underscores the pivotal position internal audit holds with executives and board members today.
Audit Committee Advisory
In fulfilling this mission, our Audit Committee Advisory services play a vital role. Audit committees often require guidance from independent advisers on matters related to internal audit, business risk management, and corporate governance. BnC brings to the table a wealth of experience and expertise, enabling us to provide valuable insights and advice to audit committees on a range of critical topics, including:
1. Structuring and optimizing internal audit-related
2. Evaluating risk assessment strategies
3. Reviewing resource allocation
4. Fostering continuous education initiatives
5. Implementing continuous auditing and monitoring
Continuous Auditing and Monitoring
Continuous Auditing (CA) and Continuous Monitoring (CM) represent automated feedback mechanisms that serve distinct roles, utilized by Internal Audit and Management. These mechanisms are designed to monitor IT systems, transactions, and controls consistently, throughout defined periods.
For companies that embrace Continuous Auditing (CA), technology becomes a valuable ally in the frequent analysis of risk data. This approach is instrumental in swiftly identifying anomalies, outliers, inconsistencies, and other critical factors, streamlining the allocation of audit resources with enhanced precision.
On the other hand, Continuous Monitoring (CM) equips management with real-time or near-real-time insights into key performance metrics. This allows them to remain vigilant regarding emerging issues, thereby bolstering their ability to effectively manage both risks and opportunities as they manifest.