Internal Verification & Validation Services
Internal Verification function
Internal Verification function is tailored to meet the specific needs of the organization. It essentially encompasses:
- Assessing whether the internal validation focus and planning process reflect its needs
- Assessing whether there are clear reporting lines and that the structure and status of Internal verification within the organization is appropriate
- Reviewing work methodologies to ensure they comply with relevant standards and current practices
Our review is carried out by way of questionnaires, interviews with the Audit Committee, Management and Internal Audit staff, Observation and Review of the internal audit work, and benchmarking with generic comparative criteria. The results are reviewed and the key observations and recommendations are then presented to the Audit Committee.
On specific request, our review may include benchmarking the function against organizations of similar size and/or type. This essentially entails comparing the performance of the Internal validation function with those of the selected organizations in terms of a range of attributes including quality of service, staff numbers, and cost.
Establishing an Internal Verification Function & Quality Assurance
The Issues
A start-up analysis to assess the costs and benefits to be derived by an organization from Internal Audit should address several factors, including the structure of the organization, the degree of autonomy of each operating unit, and your organization’s overall culture and management philosophy. An assessment also needs to be made of the control environment within your organization, and the level of awareness of control issues among both management and employees.
How we can help
We will help plan for and resolve all these issues, drawing on our in-depth knowledge of ‘best practice’ in structuring and organizing effective Internal Audit functions.
We can source Internal Audit professionals who have worked with a wide variety of organizations throughout the private and public sectors by helping them assess the costs and benefits of Internal Audit functions. We have also assisted in the development of Quality Assurance functions, thereby leaving management free to concentrate on the kex issues facing their businesses
Internal Verification function
Internal Verification function is tailored to meet the specific needs of the organization. It essentially encompasses:
- Assessing whether the internal validation focus and planning process reflect its needs
- Assessing whether there are clear reporting lines and that the structure and status of Internal verification within the organization is appropriate
- Reviewing work methodologies to ensure they comply with relevant standards and current practices
Our review is carried out by way of questionnaires, interviews with the Audit Committee, Management and Internal Audit staff, Observation and Review of the internal audit work, and benchmarking with generic comparative criteria. The results are reviewed and the key observations and recommendations are then presented to the Audit Committee.
On specific request, our review may include benchmarking the function against organizations of similar size and/or type. This essentially entails comparing the performance of the Internal validation function with those of the selected organizations in terms of a range of attributes including quality of service, staff numbers, and cost.
Establishing an Internal Verification Function & Quality Assurance
The Issues
A start-up analysis to assess the costs and benefits to be derived by an organization from Internal Audit should address several factors, including the structure of the organization, the degree of autonomy of each operating unit, and your organization’s overall culture and management philosophy. An assessment also needs to be made of the control environment within your organization, and the level of awareness of control issues among both management and employees.
How we can help
We will help plan for and resolve all these issues, drawing on our in-depth knowledge of ‘best practice’ in structuring and organizing effective Internal Audit functions.
We can source Internal Audit professionals who have worked with a wide variety of organizations throughout the private and public sectors by helping them assess the costs and benefits of Internal Audit functions. We have also assisted in the development of Quality Assurance functions, thereby leaving management free to concentrate on the kex issues facing their businesses