Internal audit outsourcing / co-sourcing
Internal audit outsourcing is the transfer of the internal audit function to an external qualified provider, including activity planning, audit execution, and preparation of internal audit reporting.
Internal audit co-sourcing is the engagement of external specialists by the company’s internal audit team (both as audit leaders and individual experts) who possess the necessary experience and knowledge in specific industries or business areas.
Advantages of internal audit outsourcing/co-sourcing:
- Independence and objectivity.
- Cost savings on maintaining in-house staff and specialised software.
- Leveraging external expertise to ensure high audit quality.
- Flexibility and scalability: ability to adjust the scope of audit and advisory services based on the company’s needs.
Examples of internal audit focus areas:
- Business process audits to improve operational efficiency.
- Analysis of reporting accuracy (financial, management, tax).
- Compliance audits to assess adherence to legal and internal regulatory requirements.
- Evaluation of the efficiency of risk management, internal control, and corporate governance systems.
Through outsourcing/co-sourcing of internal audit, the client receives:
- Annual audit plan.
- Reporting to company management on internal audit performance.
- Audit reports with recommendations for enhancing risk management, internal control, and corporate governance systems.
- Monitoring results of corrective actions based on audit findings.
Our advantages
Solid Reputation
FBK consistently takes top positions in RAEX largest industry ranking and other professional rankings.
Expert Team
FBK experts have proven expertise – audit diplomas, ACCA (DipIFR) certificates, IAB and professional accountant certificates from the Institute of professional accountants of Russia (IPAR).
One-stop shop principle
Each project is supervised by a dedicated project manager to ensure seamless coordination.
Key Persons
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