“U.S. Federal Bureau of Investigations called public company corruption the bureau’s top criminal priority, as corporate fraud cases have increased by more than 80 percent in the past five years.”
An FBI Director
|Internal Audit Outsourcing|
Many privately-owned companies and small public companies can benefit from a best practice Internal Audit function, but don’t have the time or resources to implement it. By outsourcing Internal Audit to a qualified third party, a best practice function can be put into place that will quickly produce the benefits that the company seeks.
What are the Benefits of outsourcing your Internal Audit Function?
There are numerous benefits that can be realized by outsourcing your Internal Audit function, including:
International Standards - Adherence to IIA’s International Standards for the Professional Practice of Internal Auditing assures that all of the requirements essential to having a successful value-added IA will be in place and adding value
Internal Audit Charter - An Internal Audit Charter will be created and approved by the Senior Management team and the Audit Committee of the Board of Directors, assuring that key stakeholder expectations are met.
Internal Audit Methodology - Consistent with IIA standards and best practice, Internal Audit will have a risk-based audit plan, a balanced portfolio of audits and execution by qualified auditors.
Staffing - Exceder Group will always assign highly qualified resources that will efficiently execute audits and produce recommendations that will generate the most value to the business.
Focus on Corporate Governance - Policies that address the role of the Audit Committee, Enterprise Risk Management, Strategic Planning Processes that address significant risks, corporate governance policies and practices, e.g., Fraud Risk, a Whistleblower Policy, and compliance with Laws and Regulations, and more, will be reviewed and implemented.
Sarbanes Oxley Compliance - Internal Audit will ensure that the planning, methodology, and resources used to pursue compliance with SOX Section 404 are best practice – thereby providing reasonable assurance of compliance.
How Exceder Group Can Help Your Organization
Exceder Group can start up a quality internal audit function, expeditiously, that will identify significant risks, create a risk-based internal audit program and a balanced portfolio of audits – and execute audits that will produce recommendations adding significant value to the business. It will provide the senior management team and the Audit Committee with important guidance pertaining to risk assessment and corporate governance. By outsourcing Internal Audit to the Exceder Group, the benefits that can be derived from a best practice Internal Audit function will be achieved fast - because Exceder Group’s experienced professionals will land on the run.