Internal audit

Internal audit has been defined as an independent, objective assurance and consulting activity designed to add value and improve an organisation's operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve effectiveness of risk management, control and corporate governance processes (The Institute of Internal Auditors).

The important attributes of internal audit expertise in this definition are independence, objectivity, adding value and applying a disciplined approach. These are not purely financial skills; they apply to the business as a whole. Campbell Tickell Assurance applies these skills by:

  • Analysing business processes
  • Assessing the effectiveness of the processes
  • Reporting on findings and recommending improvements to processes
  • Helping to promote good practice throughout client organisations.

Internal audit services can be provided by an in-house team, an outsourced provider or a blend of the two, usually known as co-sourcing. We provide internal audit services for our clients in all these ways. Co-sourcing is particularly useful where additional experience is required to supplement the knowledge of staff in areas such as fraud, information technology, strategic risk management and audit planning.