Understand and mitigate your risks
Outsourcing to our internal audit services allows you to gain new insights into the risks your organization faces and the controls you need to manage those risks when our industry-experienced internal auditors complete a risk-based internal audit plan.
A strong internal audit function can help you uncover if your employees are taking shortcuts or not following procedures. It can also identify best practice recommendations, note inconsistencies and identify areas of redundancy for streamlining.
Our consulting team can:
- Help to identify the areas of highest risk within your organization and build a risk-based internal audit plan that ensure internal audit time and dollars are spent in the areas with the most impact.
- Discuss controls with your process owners, test for compliance with established controls, and provide real-world examples and industry best practices tailored to your organization
- Save you time and money by supplementing your internal team when necessary to ensure your internal audit plan is completed.
The Wipfli difference
Other firms may send you a standard year-end auditor who doesn’t specialize in internal audit and brings a checklist mentality to your organization.
Our professionals specialize in internal audits and bring a consultative mindset that assesses your true risks and works with you to develop a strong, tailored internal audit plan.
And instead of leaving you with a laundry list of to-do items after your internal audit is complete, we walk you through your remediation options and help you determine approaches and solutions to mitigate your risks that are tailored to your organization’s needs, goals, and challenges.
Whether you’ve got an internal audit team who needs a little extra help or you’d prefer a hands-off solution, we can help.
Co-sourced internal audit
If you have one or more internal audit team members but they're inexperienced, going on leave, overwhelmed with the work, or not independent related to certain areas, our co-sourcing solution is a great option. Our professionals lend a hand wherever you need it. From mentoring and guiding inexperienced team members to helping your team perform the risk assessment and develop the internal audit plan, we can be as little or as much involved as you need us.
Outsourced internal audit
If you don’t have internal resources and want a completely hands-off solution, we also offer outsourced internal audit services. We take care of everything for you. You don’t have to worry about hiring and retaining specialized experts in-house, and our solution is much more cost-effective anyways.
What our internal audit consulting services include
We can meet any or all of your internal audit needs with these solutions:
- Internal control risk assessments
- Risk-based audit planning
- Operational audits
- Independent and objective analysis
- Special project needs
- Internal auditor training
- Internal auditor workpaper review and mentoring
- External Quality Assessments of the internal audit function in accordance with The Institute of Internal Audit (IIA) Professional Standards
- Self-Assessment with Independent External Validations of the internal audit function in accordance with IIA Professional Standards
- Advice and consultation on internal control issues, control design, and risk-reduction strategies
- Mandatory financial reporting consulting, such as SOX and FDICIA.