Internal Audit and Controls Advisory

In an ever-changing risk landscape, internal audit is no longer about ticking boxes.

Challenges facing Internal Audit have never been greater, with an increasingly global and complex business environment, as well as heightened governance awareness and increased stakeholder expectations.

Our Internal Audit specialists can assist in addressing these challenges by helping clients benefit from an enhanced internal audit function that provides better value for money and increased assurance.

Whether you are in need of setting up an internal audit department, transforming existing functions or attaining controls assurance, we can provide you with a tailored solution with our industry expertise, state-of-the-art internal audit tools and technology to meet your complex needs.

Our services

Internal control advisory

We can help you to:

Develop strong board and management processes to enable effective governance
Guide management to develop a clear 'tone from the top'
Measure and monitor your control culture
Ensure your processes incorporate expected levels of key controls
Develop monitoring systems to ensure your controls work to support local governance and reporting needs
Provide AML advisory services, including risk assessment, risk control and management framework health check, system testing and validation
Review current state (i.e. “as is”) processes, controls, systems, etc. against best practice to result in a documentation of factual findings and a gap analysis with high-level recommendations

Enterprise Control, a PwC Product

Simplify compliance and meet regulatory demands head-on

Our end-to-end solution enables you to leverage intelligent data analysis to monitor system risks and automate the testing and operation of your internal controls.

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Setting up of internal audit function

We can help you to:

Set up an internal audit department or advise on internal audit transformation, including the following activities:
- Internal audit strategic plan development
- Internal audit charter, strategy and vision development
- Policy and internal audit annual risk-based plan development
- Restructuring internal audit function (e.g. due to an IPO or merger)
- Organization-wide alignment and integrated assurance across the first, second and third line
Implement relevant internal audit methodology

Establishing a modernized internal audit function

Our 10 step framework for designing and implementing a strategically focused internal audit function

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Deliver the internal audit plan

We can provide:

Internal Audit co-sourcing and outsourcing, including:
- Risk assessment (including use of digital risk tools)
- Planning, scoping and work program design
- Audit execution (including tech-enabled and data-led audits)
- Global project management, coordination and communication (multi-language)
- Reporting and stakeholder engagement, including visualization tools
- Internal Audit management (including taking the chief audit executive or head of IA role)
Special audits, such as IT, Cyber, ESG, HR and culture, media and strategy audits
Third-party audits, such as vendor compliance and due diligence audits
Forensic audits and investigations, including responses to fraud and compliance breaches

Assess the maturity and quality of internal audit

We can help you to:

Conduct an independent, objective assessment in compliance with the Institute of Internal Auditors' standards
Assess the effectiveness of the internal audit function
Assess and enhance your internal audit maturity assessment, then develop a roadmap to address any gaps identified between the current and desired state
Enhance credibility and performance of internal audit by aligning it with the needs and expectations of key stakeholders
Benchmark against leading internal audit functions and provide access to the latest thinking and market insights
Develop a framework to help you evaluate the impact of your internal audit function on the business and the value-added insights you can provide to your organisation

PwC Global Internal Audit Study 2023: Seeing through walls to find new horizons

Our Internal Audit studies have helped to capture new ideas, stimulate debate, and unlock new opportunities for Internal Audit functions to evolve, add value, and remain relevant. The insights shared in this report can help not just Internal Audit leaders, but those who rely on Internal Audit’s ‘superpowers’ to give them confidence, and help see risk differently.

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Fraud risk control assessment

We can help you to:

Review your organisation's fraud governance structure
Assess the maturity of your fraud risk management programme and benchmark against a standardised framework
Assess the key controls implemented to protect your organisation from internal and external fraud
Review your organisation's investigative function, including assessing the processes used to collect, preserve and store data, the quality of reporting, and stakeholder management

PwC’s Global Economic Crime and Fraud Survey 2022

Protecting the perimeter: A new frontier of platform fraud

Is your organisation prepared to deal with the disruption caused by fraud, bribery or corruption? Incidents are at record highs worldwide; 46% of organisations reported experiencing fraud or financial crime over the last 24 months. 70% of those organisations that did encounter it experienced new incidents of fraud as a result of COVID-19 disruptions.

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Awareness and training

We can help you to:

Deliver internal controls training to management and staff
Prepare and deliver classroom or on-the-job training
Conduct training courses tailored to the needs of your internal audit function
Assist in Internal Audit capability building by providing tailored trainings across levels i.e. beginner, intermediate and advanced levels

PwC's Academy Vietnam

We are the specialised external training arm of PwC Vietnam. We leverage the global expertise of the PwC network to tailor learning solutions grounded in realistic business scenarios according to the specific needs of the clients.

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