Internal Audit

Overview

Risk-based scoping, execution of the audit programme, and reporting to the audit committee or the board with findings and agreed management actions. Mandatory for companies above the thresholds set under the Companies Act, and frequently required by lenders, investors and grantmakers well below them. Kept structurally separate from our compliance work.

Scope

• Risk assessment and audit universe definition
• Annual audit plan agreed with the committee or board
• Process walkthroughs and control testing
• Fieldwork and evidence gathering
• Findings with root cause and agreed management action
• Reporting to the audit committee or board
• Follow-up on the status of prior actions

Applicability

Mandatory for companies above the thresholds prescribed under the Companies Act. Frequently required well below them by lenders, investors and grantmakers. Kept structurally separate from our compliance work.

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