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The
Assurance Pressure Cooker Heads
of Internal Audit are under greater pressure to provide more and more assurance to our key stakeholders. In order to do so
Heads of Internal Audit are having to work smarter with a greater focus on aligning internal audit plans to the key organisational
risks and providing continuous assurance that these risks are being managed. Moody's Risk Management provide
a range of services aimed at aligning the audit process to provide maximum assurance. Internal Audit Benchmarking We have benchmarked the effectiveness
of one of the world's top 5 banks together with some of Ireland's leading organisations. Our process is designed to articulate
the specific needs of the Audit Committee and other key but secondary stakeholders and then critically examine: - The gravitas of the Audit Team;
- The Audit planning
process;
- The Skills and competencies of the Audit Team;
- Use of CAATs and other cutting edge techniques
- The
detailed audit scoping process;
- Fieldwork and quality control processes;
- The reporting process.
Based on our assessments
we develop consensus on potential improvements and issue an action plan aimed at meeting the needs of the Audit Committee
and complying with best practice as set by the IIA. We also provide a range
of one off interventions aimed at supporting the on-going Internal Audit process: - Facilitating
one off control risk assessment workshops to facilitate the development of an audit needs assessment and Annual Internal Audit
Plan;
- Helping Heads of Internal Audit develop control risk self assessment processes and train staff in all
aspects of facilitation. We even provide tools for assisting in control risk self assessments. Some of our trainers have experience
of completing over 1,000 workshops with many diverse client groups;
- Assisting in the development of CAATs, IT Audit and Contract Audit Capabilities;
- Conducting one off high level reviews of major and high profile areas where an externally independent assessment
is required.
We are also resellers of a wide range of tools which are designed
to make life simpler for a Head of Internal Audit. If you are interested and would like to know more please give us
a call.
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