Internal AuditAll organizations regardless of size and industry, public or private, need periodic independent and objective reviews of the design and operating effectiveness of its internal control environment in order to ensure financial, operational and information technology risks are properly mitigated to an acceptable level. Our team of specialized subject matter experts work with organizations of all sizes across multiple industries both strategically and tactically to ensure the vision and operations of the internal audit function are achieved.
Internal Audit Outsourcing
The internal audit needs of all organizations are diverse and can be complex at times. Due to a consistently raising demand for a high level of service from senior management and or by the Board of Directors and by external financial auditors coupled with a very low supply of qualified and certified internal auditors, many organizations outsource the internal audit function to 3rd party providers. Hunt Risk Solution Partners depth and breadth of industry, technology and operational internal audit resources allows us to provide the exact resources for the outsourced internal audit function in order for the organization to fully execute its audit plan in an efficient and effective manner.
Internal Audit Co-Sourcing
Very, very few internal audit functions are able to attract, hire and retain all of the internal audit resources it requires on a full-time basis, at all times, particularly with information technology or IT auditors. As a result, it is virtually impossible for many organizations to fully execute their risk-based audit plans on a year-to-year basis. Hunt Risk Solution Partners depth and breadth of industry, technology and operational internal audit resources allows us to provide the exact skill sets at the time you need them in order for the organization to fully execute its internal audit plan in an efficient and effective manner.
Whether your organization is looking to partner with a firm on an internal audit outsourcing arrangement or internal audit co-sourcing, the scope of the engagement could include activities such as:
- Internal Audit Risk Assessments, Planning, Execution and Reporting
- IIA Standards Consulting and Best Practices
- Internal Control Optimization
- Special Projects
- Internal Control Documentation and Optimization
Chief Audit Executive and Audit Committee Consulting
Chief Audit Executives and Audit Committees often consult with independent internal audit consultants on issues related to internal audit, corporate governance and other related subjects. Hunt Risk Solution Partners has the in-depth knowledge and experience to advise Chief Audit Executive and Audit Committees on a variety of issues such as how to enhance the value of the internal audit function.
Internal Audit Quality Assessment and Improvement Programs
Hunt Risk Solution Partners internal audit Quality Assessment Review (QAR) services help organizations evaluate conformance with The Institute of Internal Auditors (IIA) International Standards for the Professional Practice of Internal Auditing while discovering opportunities to improve the efficiency and effectiveness of the internal audit function. Whether your organization is investigating firms to partner with in order to perform an independent validation of an internal assessment or if your organization is looking for a partner in order to comply with the 5 year external review assessment as required by The Institute of Internal Auditors (IIA) International Standards, Hunt Risk Solution Partners is ready.
The internal audit risk assessment and its perpetual maintenance are vital to identifying the activities that the internal audit function can perform to provide measurable benefit to the organization coupled with the organization’s risk tolerance level. While there are generally a few required internal audit activities regardless of risk that internal audit functions must perform (SOX, external auditor assistance, etc.), the internal audit function has the unique ability to provide increased risk coverage while increasing measurable value to the organization through the identification and performance of audits across the value chain.Contact Us