What is an Internal Audit?
Internal auditing is an independent, objective, assurance and consulting activity designed to add value to and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of the organization’s risk management, corporate governance, and internal control processes.
As a result of the Sarbanes-Oxley Act of 2002, privately-held companies, in addition to publicly-held companies, have become more focused on the structure of their internal controls, and are now considering the financial and logistical demands of performing risk assessments, process documentation, and validation testing on various aspects of their internal control environments.
How we can help
I.S. Partners, LLC can assist companies by performing internal audit preparedness engagements, and helping them create effective self-assessment programs.
A typical internal audit engagement would:
- Develop, fulfill and maintain a company’s ongoing internal audit function
- Perform quality reviews on a company’s internal audit function
- Augment a company’s existing internal audit staff
- Provide assistance with the development of a company’s internal audit function
- Offer advisory services to audit committees and senior management