Staffing & Skilled Resources
Qualified accounting and finance professionals placed into your team, on secondment or for a defined engagement.
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Staffing & Supervision
Internal Audit Co-sourcing
Internal audit capacity supplied to your audit committee - the plan executed by our team, while the function keeps reporting to you.
Overview
An internal audit function is easy to mandate and hard to staff. The work is cyclical, the skills are specialised, and a small in-house team spends much of the year either idle or overwhelmed. Co-sourcing keeps the function yours - the charter, the plan and the reporting line to the audit committee stay where they are - while the fieldwork is carried out by people who do it continuously. Where a company has no internal audit function at all, we can run it end to end on the same terms.
What this covers
How we help
Risk-based annual plan
A plan built around your cycles and risks, agreed with the audit committee before work starts.
Fieldwork execution
Testing carried out by our team against the agreed scope, with working papers you can inspect.
Function set-up
Charter, methodology and reporting templates where the function is being created from nothing.
Audit committee reporting
Findings, management responses and a tracked position on every open action.
Out-of-plan reviews
Targeted work on a location, a process or a vendor when something needs looking at now.
Follow-up and closure
Verification that agreed actions were actually implemented, not merely accepted.
Common questions
Internal Audit Co-sourcing — questions we are asked
Risk & Forensic Advisory is engaged for a defined question - a control review, an investigation, a set of SOPs - and ends when that question is answered. Co-sourcing is a standing arrangement: we supply the capacity to run your internal audit plan across the year, and the function continues to report to your audit committee rather than to us.
No. Section 144 of the Companies Act 2013 bars a statutory auditor from providing internal audit services to the same company. Where we hold the statutory audit, we will tell you at the outset rather than take the engagement.
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Independent senior oversight of an in-house finance function - the review layer a small team usually cannot staff for itself.
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Training & Capability Building
Technical training for in-house finance teams - taught against your own trial balance rather than a generic case study.
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Talk to us about internal audit co-sourcing
A short conversation is usually enough to establish whether this is the right route, and what it would involve.