What is Internal Audit outsourcing and co-sourcing?
Many organizations undergo internal audits to examine their business processes and controls, as well as their information technology procedures, to ensure that their operations align with desired objectives. If there are problems, management may need to quickly deploy remediation measures so that their processes are restored to desired standards. Internal Audit Outsourcing allows your organization to employ a temporary staff of audit experts to perform objective analysis and tests, and issue reports. Internal Audit Co-sourcing allows your organization to leverage I.S. Partners, LLC’s knowledgeable staff with your existing in-house audit employees.
I.S. Partners, LLC specializes in providing a full complement of internal audit services to companies in a variety of industries. Our services range from assisting management with the creation of an internal audit function to providing specialized skill-sets to augment the most established and sophisticated internal audit departments. Regardless of the level of assistance required, IS Partners, LLC’s cadre of audit professionals will be available to consistently get the job done right.
Some of the primary internal audit services offered by I.S. Partners, LLC include:
- Providing a full-service “one-stop” solution for developing, fulfilling and maintaining a company’s ongoing internal audit function.
- Performing quality reviews (“health checks”) on a company’s internal audit function to ensure effectiveness and adherence to regulatory and/or compliance requirements.
- Providing assistance with the development of a company’s internal audit function.
- Providing advisory services to audit committees and senior management.
When should my organization seek Internal Audit outsourcing or co-sourcing?
Whenever you want to maximize your internal audit department, seeking help from I.S. Partners, LLC is the cost-effective approach to evaluate and improve internal audit functions in your organization. It can also become beneficial when you simply do not have enough staff to properly manage business process or IT environments, or your staff doesn’t have the full knowledge to perform comprehensive auditing strategies tailored to your organization’s objectives.
What are the advantages of outsourcing or co-sourcing Internal Audit functions?
I.S. Partners, LLC provides internal audit outsourcing and co-sourcing services on an as-needed basis, so you won’t have to invest budget resources in a full-time audit staff. You have complete access to the expertise that our IT and auditing staff provides when you need it. We will provide greater oversight of functions and controls as we strengthen your existing IT and audit departments.