With global industries, economies and regulatory environments constantly changing (financial crisis, COVID-19 pandemic, climate change, to name a few), strategic risk management has become a key issue for business leaders. In this dynamic environment of challenges and opportunities, Internal Audit plays a key part in helping your organisation manage the risk within a desirable level and achieving the strategic objectives.
Our local Risk Assurance professionals (supported by PwC’s global network) combine deep cross-functional expertise and leading technologies to improve visibility into risks, respond with agility and drive greater preparedness for the future. The systems, capabilities and collective knowledge we deploy, can deliver sharp and objective insights and high value to you as our client.
How we can help you:
Providing co-sourcing/outsourcing services
Quality assurance reviews (IIA standards)
Benchmarking internal audit performance
Improving the quality, productivity and value of in-house services
Enhancing internal audit methodologies to improve audit planning, execution and reporting
Developing and delivering training plans
Advising boards on optimum resourcing models
Combined assurance
In addition to the Internal Audit services, our local team also offers services relating to enterprise risk management (ERM) including:
ERM framework development and/or implementation
Risk identification and assessments
ERM training
Focusing on the future: Introducing the new Standards
The Institute of Internal Auditors (IIA) revised its Global Internal Audit Standards™ (“the Standards”) in 2023 to support the continued evolution of the profession and help organisations address today’s complex risk landscape.
This represents a significant opportunity for Internal Audit (IA) functions to incorporate the latest developments in good practice and drive transformation to increase the value they can provide to their stakeholders.
All organisations will need to consider their response and implement changes for the new Standards in 2024, ready to conform in 2025. Find out below how PwC can help you.
Read more...Seeing through walls to find new horizons
For more than a decade, PwC has conducted global surveys with Internal Audit (IA) leaders and their stakeholders. Our 2023 survey was our largest ever. It captured views from 4,680 IA leaders (41%), board members and executives in the business (37%), and second line risk (11%) and compliance (11%) leaders. It covered 81 countries across a wide range of industries.
Read more...
What is Internal Audit?
Internal auditing is the independent and objective evaluation of an organisation’s internal controls to effectively manage risks within its risk appetite. Internal auditing identifies weaknesses that may threaten an organisation from achieving its objectives, and provides recommendations on how to address those weaknesses.
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