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Latest insights - 4 items
As the world enters a risk landscape that’s more complex and connected than ever before, it’s time for internal audit (IA) to shine.
IA is at the heart of trust. It gives companies and their stakeholders confidence in their people, processes, systems and data, allowing them to see risk differently, move faster and make better decisions.
IA has a unique combination of risk-mindset, objectivity and organisational reach. At PwC, we believe that—with the right vision, approach and technology—IA can act as a ‘lighthouse’ to help companies navigate risk and see around corners. This both protects value and casts light on new opportunities for value creation.
IA is the last line of defence, but increasingly the first one called to help.
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This is Internal Audit
Seeing through walls to find new horizons
PwC’s Global Internal Audit Study 2023 reveals how organisations can avoid hazards, remove complexity, and find new opportunities.
How our internal audit services can help you
At PwC, we combine core IA capabilities with other expertise to cover the full risk spectrum, including working with specialists in areas such as cyber security, ESG, regulation and compliance, culture and behaviours, forensics, and tax. We also add industry experts and the latest digital tools, such as robotic process automation (RPA), data analytics and visualisation, and artificial intelligence (AI), to ensure IA is focused on the right areas and delivered efficiently.
- Fully outsourced IA
- Co-sourced IA
- IA advisory
- Control self-assessment (CSA)
Fully outsourced IA
We have taken our traditional outsource service to the next level, recognising the importance of a flexible approach that can be tailored to meet each organisation’s needs. We have developed a series of ‘made to measure’ sector and segment specific work programmes, underpinned by our team of specialists with experience across multiple industries and sectors. We incorporate the latest data analytics techniques to derive greater assurance and focused outcomes for you.
Co-sourced IA
We have reimagined how we can best support in-house Internal Audit functions. In addition to looking for a partnership that can supplement your own team with subject matter expertise or additional experienced auditors, we can also provide a comprehensive suite of component managed services. These range from our offering to upskill and enable your own team or provide a tailored data analytics service for you; provision of controls and compliance testing by our controls specialists; delivery of your critical foundation and back office activities; and acting as your innovation and strategy partner.
IA advisory
IA advisory is focused on providing insight needed to support you in times of change and when there is heightened risk. Our capabilities can be divided into three broad categories: Internal Audit function set up and development (including key foundational areas such as planning, methodology, training, quality assurance and the Internal Audit “brand”); Internal Audit Transformation; and External Quality Assessments.
Control self-assessment (CSA)
We help you take stock of the efficacy of your internal controls and risk management measures through the development, validation and implementation of a CSA methodology. In the development stage, we help you select the right CSA technique for your unique circumstances, from simple questionnaires to automated solutions. We then design a practical CSA manual containing the relevant policies, procedures and reporting formats and conduct training sessions to help your management and employees implement CSA. Finally, we help you validate your CSA methodology through pilot projects.
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David Toh
Governance, Risk, Controls and Internal Audit Leader, PwC Singapore
Tel: +65 9186 3006
