Internal audit

The product

The objective of an internal audit function is to protect business assets. More specifically, its purpose is to:

  • Measure the effectiveness of existing internal controls
  • Propose corrective action to make the controls more effective
  • Recommend the implementation of additional controls, where necessary

To ensure that the internal audit function is a simple, dynamic and effective management tool, Mallette can complete one or several of the following tasks, as needed:

 

  • Design an internal audit function and recruit the staff required to ensure its smooth operation
  • Develop a work plan for the team
  • Carry out the work plan in full or along with team staff
  • Apply to existing internal controls any necessary corrective actions
  • Institute the required additional control
  • Conduct the necessary follow-up, meetings and reporting
  • Measure the resulting effectiveness and economy

It is important to emphasize that Mallette’s independence from the firm will generally not be called into question with this type of assignment, except in specific situations.

Target clientele

Organizations, generally medium or large in size, contemplating the implementation of an internal audit system supervised by a responsible team.

Advantages for the client

By making use of Mallette’s expertise, an organization can:

 

  • Ensure implementation of an internal audit function
  • Benefit from periodic evaluation of controls;
  • Staff any position required to ensure the smooth operation of its internal certification team without affecting the proper conduct of its operations
  • Maximize the effectiveness of existing control and maximize any resultant potential savings

 

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