Outsourcing Internal Audit

• Order as internal audit
• As internal auditing, we monitor compliance with the rules on proper business organization and other statutory requirements.
• As an internal audit, we advise and inform the management regarding existing deficiencies and identified organizational gaps.
• Selected processes are checked randomly, risk-oriented and at appropriate intervals for their conformity.
• As internal audit, we assume our tasks without instructions and with the necessary specialist knowledge. We report directly to the management.

One of the key requirements for internal audit staff is their independence. They examine on behalf of the management, who then reports the results to the Supervisory Board. This means that internal auditing must therefore be above all company-internal political and strategic considerations.

The establishment of an independent audit also means that these employees must not be entrusted with any tasks that are not related to auditing. Such an exemption of employees often fails in practice because of the necessary full utilization of the employees and / or the available resources.

In many cases, the company chooses a mix of its own internal audit and external specialists. We also call this kind of cooperation with our clients co-sourcing. Special audit procedures can then be outsourced cost-effectively to external specialists. 

The internal audit can then concentrate fully on the basic tasks. Specialized knowledge, which is not needed every year, can then be purposefully “bought in” from the outside. If you then set the costs for co-sourcing models or even for special orders in relation to the structure of your own audit capacity, it is worth outsourcing the internal audit in most cases.