INTERNAL AUDIT
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 influence. Today’s leading internal audit functions ensure their organizations become 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.
Audit Committee Advisory
Audit committees often need to consult independent advisers on matters related to an 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
-
Resource review
-
Continuing education
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 that deploy Continuous Auditing (CA) can leverage technology to analyze
risk data frequently. 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.
