Internal audit execution
- Environment
- Regulated financial services and other sectors
- Challenge
- Audit demand beyond in-house capacity
- What we did
- Led risk-based audits and multidisciplinary teams
Expanded coverage, consistent risk-focused execution
01 · Internal Audit Advisory
A risk-based audit functionwithout the full headcount.
For audit committees, CFOs and heads of audit at mid-sized companies and financial institutions who need internal audit coverage that is risk-based, delivered on schedule and led by people who have run audit programs at large institutions.
Outcome
An audit plan that gets delivered, and reporting your audit committee can rely on.
When clients call us
Common reasons clients bring us in.
- The audit plan is behind and year-end is approaching
- The audit committee wants an internal audit function, but the company doesn't have one yet
- A key auditor has left, or the team lacks specialist skills in IT, regulatory or data work
- An external quality assessment is coming, or the methodology needs to be brought up to the IIA's Global Internal Audit Standards
- The company is preparing for an IPO and needs an internal audit function in place
What we do
Internal Audit Advisory
01
Enterprise risk assessment and audit universe
A documented view of where the organization's risks sit, so audit effort goes where it matters.
02
Risk-based annual audit plan
A plan the audit committee can approve with confidence, sized to the budget and team you actually have.
03
Audit scoping and planning
Clear objectives, scope and testing approach for each audit before fieldwork starts.
04
Co-sourced or fully outsourced internal audit
Our team alongside yours to fill gaps, or the whole function delivered for you.
05
Operational, financial and compliance audits
Fieldwork, testing and workpapers to large-firm documentation standards.
06
Audit committee reporting
Concise, decision-ready reporting on results, issues and remediation status.
07
Methodology, QAIP and IIA Standards alignment
Methodology, templates and a quality assurance and improvement program that hold up to an external assessment.
08
Data-enabled audit testing
Full-population analytics built into fieldwork, so coverage goes beyond samples.
Support across the audit lifecycle
- 1Risk assessment
- 2Planning and scoping
- 3Fieldwork and testing
- 4Reporting and follow-up
How we work
Engagements scaled to what you need.
Co-sourced
Our principals work alongside your audit team on specific audits, specialist areas or peak periods.
Fully outsourced
We deliver the internal audit function end to end, reporting to your audit committee.
Project-based
A defined piece of work: a risk assessment, a methodology refresh, or readiness for an external quality assessment.
Representative experience
Where our principals have done this work before.
Work performed by Aevum's principals in prior roles. Client names withheld; not Aevum engagements.
Questions
Common questions
Can you work alongside our existing internal audit team?
Yes. Co-sourcing is one of the most common ways we work. We can take on specific audits, cover specialist areas, or add capacity during busy periods, working to your methodology and reporting lines.
We don't have an internal audit function. Can you provide one?
Yes. In a fully outsourced model we deliver the risk assessment, audit plan, fieldwork and audit committee reporting, and a principal leads the relationship with your audit committee.
Is your methodology aligned with the IIA Standards?
Yes. Our methodology is aligned with the IIA's Global Internal Audit Standards, and we can help you build or refresh your own quality assurance and improvement program.
How do engagements usually start?
Most start with a focused initial assessment, typically 2 to 4 weeks, that gives you a current-state view and a practical roadmap whether or not we continue.
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