Internal Audit Methodology & Approach
- Our approach promotes collaboration, leadership and support.
- Our internal audit methodology and framework is:
- Flexible and allows us to focus on your specific needs.
- Designed to manage the engagement in a cost-effective way, ensuring consistency in approach, execution and quality.
- Based on the COSO Internal Control evaluation framework and IIA Standards.
- The internal audit framework is comprised of five iterative phases:
- Understand the business
- Utilize IIA and COSO internal audit and control frameworks
- Assess risk & develop audit plan
- Audit fieldwork & execution
- Reporting & governance