Internal Audit
Reducing risk - a support service to your team
The need for a focused approach to internal audit and risk management has never been as great as it is today. Risks left unmanaged in an organisation can ultimately result in its demise. The newspapers often report on companies where there was fraud, lack of controls and break down in procedures. Compliance and directors responsibilities are brought to public attentions almost on a daily basis.
Baker Tilly Ryan Glennon provides a complete range of internal audit, governance and risk services tailored to your sector, size, risk appetite and regulatory requirements. We focus on delivering the internal audit solution you need in a way that you do business.
We are often invited in by organisations including companies and public bodies to undertake a review of compliance procedures over a broad range of areas. Very often these projects are undertaken on a rotation basis, covering all key areas in an agreed timeframe. Sometimes we are invited into an organisation because of an immediate problem or concern. These include - suspected fraud, expense manipulation , tendering anomalies, data protection, computer access - to name a few.
The historic view of internal audit has traditionally focused on internal financial controls. The modern internal audit approach is significantly more dynamic. It includes a significant number of areas including:
- Financial: Budgeting and Forecasting, Ordering Procurement & Payables, Invoicing & Accounts Receivables, Capital Projects, Investments & Fixed Assets, Bank & Cash, Payroll & Pensions, Funding Month End and Financial Close.
- Operational: Human Resources, Data Protection & FOI, Health & Safety, Communications & Organisation Structure, Development & Support, IT Security, Change Management & Business Continuity, Value for Money.
- Strategic: Strategic Direction and Planning, Organisation Structure,
- Risk Management & Governance: Risk Management Policy, Development of a Risk Register, Code of Practice for Governance of State Bodies.
What we do
Our risk-based approach identifies the areas that are of most risk to an organisation's strategic, financial and operational effectiveness.We ensure that your systems / processes / people and working practices are ‘aligned’ to your risks and business objectives.
On identifying any areas of weakness, corrective actions are proposed and prioritised in order to provide a clear direction and path for management to take. We work with you in developing the solution and getting buy in from all concerned to ensure effectivness.
How we do it
Where an organisation already has some of the skills required to complete the internal audit process but lacks expertise in a particular area, we can supplement the existing skill-set.
Whether you need an outsourced or co-sourced solution or already have an established internal audit function and simply need specialist support, our experienced internal audit and risk management professionals are ready to work with you to help you enhance your systems of governance, risk and control.
Our approach involves:
- Planning the assignment and setting parametres
- Evaluation the risks and adherance to policies and standards
- Review the results with an independent approach
- Report on findings and internal managers response
We at Baker Tilly Ryan Glennon are able to provide extensive knowledge, sector specialisms and, together with our technical risk expertise, can tailor an internal audit service to your individual needs.
