As regulatory requirements and business risks continue to evolve, organisations need effective internal audit functions to provide independent assurance, strengthen governance and enhance internal controls.
We have extensive experience supporting complex, highly regulated listed and private businesses. Whether you need a fully outsourced internal audit function, additional resource for your in-house team or specialist advisory support, we provide a flexible, tailored approach designed to meet your organisation’s needs.
Strengthen your internal audit function with expert support
Our team delivers outsourced and co-sourced internal audit services, alongside strategic advice and practical support for Heads of Internal Audit and their teams.
How our internal audit services help
We work closely with organisations to:
- Deliver independent assurance across key risks and controls
- Strengthen governance and risk management frameworks
- Enhance internal controls and stakeholder confidence
- Achieve conformance with the Global Internal Audit Standards (GIAS)
- Access specialist expertise and additional resource when required
- Drive continuous improvement and long-term value.
With a flexible, collaborative approach, we help organisations build effective internal audit functions that support strategic objectives and organisational resilience.
01 Outsourced internal audit
02 Co-sourced internal audit
03 Advisory & support services
A fully managed internal audit function
For organisations without an in-house internal audit team, we can establish and operate a complete internal audit function on your behalf.
We become part of your organisation, acting as your Head of Internal Audit and taking responsibility for delivering the end-to-end internal audit process. This includes developing risk-based internal audit plans, conducting internal audits, reporting to the Audit Committee, and tracking the implementation of agreed actions.
Our outsourced internal audit service provides:
- Independent and objective assurance in accordance with the Global Internal Audit Standards (GIAS)
- Efficient and effective internal audit delivery across planning, fieldwork and reporting
- Strategic and risk-based internal audit planning
- Audit Committee reporting
- Follow-up and action tracking
- Access to specialist industry and subject-matter expertise.
This approach enables organisations to benefit from a high-quality internal audit function without the cost and resource commitment of maintaining an in-house team.
Enhancing the capacity and capability of your internal audit team
We work alongside in-house internal audit teams to provide additional resource capacity, technical knowledge and subject-matter expertise.
Our co-sourced internal audit service is particularly valuable during periods of resource pressure, organisational change or when specialist skills are required to address complex or technical areas.
We provide:
- Additional audit resource capacity
- Subject-matter expertise in areas such as technology, regulatory compliance, ESG / sustainability, actuarial, financial reporting, tax etc
- Temporary internal audit leadership support.
By supplementing your existing team, we help ensure internal audit plans are delivered effectively while maintaining audit quality and stakeholder confidence.
Strengthen your internal audit function with expert advisory support
Today’s Heads of Internal Audit face increasing expectations.
Alongside providing independent assurance, internal audit functions must demonstrate conformance with the Global Internal Audit Standards (GIAS), respond to emerging risks, support effective governance and deliver meaningful insight that adds value across the organisation. Meeting these expectations can be challenging, particularly as standards evolve and stakeholder demands increase.
In addition to our core outsourced and co-sourced internal audit services, our specialists provide independent, practical and tailored Internal Audit Advisory & Support Services to help internal audit functions strengthen audit quality and deliver value.
Whether you require an External Quality Assessment (EQA), support with your Quality Assurance and Improvement Programme (QAIP), an Audit Committee Effectiveness Review, specialist Internal Audit Training or want to attend one of our Heads of Internal Audit Roundtables, we can help.
External Quality Assessments (EQAs)
Independent assurance over the effectiveness of your internal audit function
An External Quality Assessment (EQA) is a key requirement of the GIAS and provides independent assurance regarding the effectiveness of an organisation’s internal audit function.
An EQA evaluates both conformance with the GIAS and how effectively internal audit operates in practice. It provides confidence and assurance to senior management, the Board and the Audit Committee that internal audit is positioned to deliver meaningful insight, challenge and assurance.
Why organisations need an EQA
An EQA helps internal audit functions to:
- Validate and demonstrate conformance with the GIAS
- Identify strengths and areas for improvement
- Benchmark performance against recognised good practice
- Improve internal audit governance and reporting
- Enhance the overall effectiveness of the function.
For many Heads of Internal Audit, an EQA is also an opportunity to gain independent feedback and establish a practical roadmap for future development.
Our EQA methodology
Our approach goes beyond assessing compliance. We evaluate how effectively internal audit operates, how it is perceived by stakeholders and whether it is delivering value to the organisation.
Every EQA includes:
- Independent assessment and reporting
- Clear findings and observations
- Prioritised recommendations
- A practical improvement roadmap
- Support for future quality enhancement.
EQA readiness or health-check reviews
For organisations preparing for an upcoming assessment, we also provide EQA readiness or health-check reviews.
These help to identify potential gaps before a formal assessment takes place and provide practical recommendations to strengthen readiness and improve outcomes.
Quality Assurance and Improvement Programmes (QAIPs)
Embedding quality into everyday internal audit activity
A robust Quality Assurance and Improvement Programme (QAIP) is essential for demonstrating audit quality and supporting continuous improvement.
Rather than viewing quality as a periodic exercise, organisations should embed quality monitoring throughout the internal audit lifecycle.
Why a QAIP matters
An effective QAIP helps internal audit functions to:
- Support conformance with GIAS
- Monitor internal audit quality on an ongoing basis
- Identify improvement opportunities early
- Create a culture of continuous improvement.
A well-designed QAIP also provides assurance that audit processes remain consistent and effective.
How we support QAIP development
We advise and support internal audit functions in the design, development and implementation of QAIPs that:
- Align with both GIAS requirements and leading practice.
- Support continuous improvement through ongoing quality monitoring, file reviews, stakeholder feedback and meaningful performance measures.
Our approach is proportionate, practical and tailored to the maturity of your internal audit function.
The result is a QAIP that supports sustainable improvement and becomes an integral part of day-to-day audit delivery.
Audit Committee Effectiveness Reviews
Strengthening internal audit governance, oversight and accountability
Effective governance depends on an engaged and informed Audit Committee.
The GIAS place increased emphasis on governance, oversight and the relationship between internal audit and those charged with governance. Many of the standards’ essential conditions require active support and engagement from the Audit Committee.
Why review Audit Committee effectiveness?
Organisations benefit from periodic independent reviews to assess whether governance arrangements remain effective and aligned with expectations.
An Audit Committee Effectiveness Review can help:
- Strengthen internal audit governance and oversight
- Enhance Audit Committee performance
- Support effective challenge and decision-making
- Improve communication between internal audit and governance stakeholders
Our review approach
Our independent reviews assess:
- Internal audit governance arrangements
- Audit Committee effectiveness
- Oversight responsibilities and practices
- Interactions between the Audit Committee and internal audit
- The quality and effectiveness of internal audit reporting.
Following the review, we provide practical and proportionate recommendations designed to strengthen governance and support continuous improvement.
The outcome is greater confidence that governance structures are operating effectively and supporting the success of the internal audit function.
Internal audit training and technical support
Building capability in a changing environment
Internal audit functions operate within an increasingly complex landscape.
Emerging risks, evolving regulatory expectations and changes to professional standards require internal auditors to continually develop their knowledge and skills.
Tailored support for internal audit teams
We provide bespoke internal audit training and technical advisory support tailored to the needs of Heads of Internal Audit and their teams.
Our specialists deliver support across a wide range of internal audit, market and regulatory topics, helping teams maintain competence and remain up to date with changing requirements.
Whether you require specialist training, additional technical expertise or an experienced sounding board for complex issues, our team can provide support that is practical, relevant and aligned to your objectives.
Heads of Internal Audit Roundtables
Our Heads of Internal Audit Roundtables bring together internal audit leaders to hear from our experts and discuss hot topics, emerging risks, regulatory developments and leading practices.
Speak to our internal audit specialists
Whatever the set-up, size or maturity of your internal audit function, our team can help you.
We work closely with you to understand your objectives and deliver tailored support that meets your organisation’s needs.
Contact Jess Wills or Sam Shaikh today to discuss your internal audit requirements.
For more information, please contact our Governance, Risk & Control Assurance team.
Related Insights
-
Global Internal Audit Standards 2024 (GIAS): Key lessons 18 months on
Eighteen months after implementing the Global Internal Audit Standards 2024 (GIAS), internal audit leaders are focusing on effectiveness, quality assurance, AI adoption and delivering greater value to stakeholders.
-
Reinventing your internal audit function – how far have you got?
We highlight the key challenges of the new Global Internal Audit standards, aiming to help internal auditors meet the essential requirements effectively and appropriately.
-
Time to reflect on your internal audit function
On 9 January, the Institute of Internal Auditors updated their Global Internal Audit Standards, shaping the professional practice of internal auditing worldwide. We explain what you need to know.
