Internal audit co-sourcing
Internal audit functions within financial services companies face many challenges. To be effective, internal auditors must develop knowledge of complex business environments with varied risk profiles, grasp the risks inherent in the development and deployment of new products and services and adjust to a world of ever-changing regulation.
Not only must internal auditors be skilled in each business area but must also learn the technicalities of new FCA regulations and how these regulations apply to the business.
Recruiting a large team of skilled auditors with experience in all risk areas is a costly solution, particularly for global organisations with a centralised internal audit department. As internal audit teams strive to provide value-added assurance and consulting to their business, co-sourcing has become the preferred solution for many internal audit functions.
Our IIA qualified resources and deep FCA knowledge has consistently served a number of our clients through their risk-based audit cycle. We augment internal audit functions with insight and scalability, ensuring that Heads of Internal Audit have a reliable partner to help add value to regulatory audits.
You can download our guide to internal audit co-sourcing here. If you would like to discuss your requirements further, please get in touch using the contact form below.