Outsourcing and co-sourcing
The role of Internal Audit is to provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively.
We are able to bring you extensive capabilities that go beyond the traditional focus on internal controls, by considering areas like your organisation’s culture and behaviours into which we will embed sound control systems within your organisation.
We offer an array of flexible outsourcing and co-sourcing solutions, including:
Full-outsourcing
We will act as your own Internal Audit function by providing you with a team that will fully cater for your needs. The Internal Audit function will execute a full scope, risk focused Internal Audit plan, and will report to the audit committee or the board of directors.
We will implement a system of continuous improvement by closely monitoring implementation of recommendations through follow-up activities and regular reporting to the audit committee.
Co-sourcing
Co-sourcing will involve PwC working alongside your Internal Audit team. The execution of the Internal Audit plan would be shared and typically, we would handle specialised areas or areas which are more cost effective to outsource, such as special investigations and system security audits. We would also be able to provide specialist resources, such as IT specialists, industry experts and forensic investigators where necessary.
For all types of engagements, we will make use of the wide variety of skills, subject matter expertise and special insights to which we have access through our global network. This pool of knowledge, skills and experience is practically impossible to reach for most in-house teams.
Training and knowledge sharing
In the current changing business environment, organisations will only thrive if they recruit, develop and retain their key staff.
We can assist you in the training and development of your Internal Audit or Risk Management teams, or any other personnel in charge of governance. We can help you ensure that your staff keeps up to date with current professional development and modern practices.
Our training solutions may be customised, tailor made, and exclusive to your organisation. We are able to provide these training programmes with a high level of interaction, based on practical examples which will help meet and exceed all your expectations, and add value to the attendees. We will leverage our trainers’ practical experience in varied aspects of Internal Audit and related subjects.
Additionally, we run regular general training programmes that are designed and developed on wide-ranging topics according to developments within the business environment.
Training on Internal Audit can be held at our dedicated premises in Mill Street, Qormi or at your premises. Our training facilities are equipped with all that is necessary to ensure that a conducive learning environment is created. You can access PwC Academy through www.pwc.com/mt/academy.
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