Internal Audit
Independent Assurance to Strengthen Governance, Risk and Control
Strong governance and effective internal controls are fundamental to the success of any organisation. Internal audit provides independent assurance that your systems, processes and controls are operating effectively, helping you manage risk, improve performance and achieve your strategic objectives.
Our experienced internal audit specialists work with businesses, charities, academies, not-for-profit organisations and regulated entities to provide practical, risk-focused assurance and recommendations that add real value.
Whether you require a fully outsourced internal audit function or support with specific reviews, we tailor our approach to meet the needs of your organisation.
How we can help
- Internal audit planning and delivery
- Risk management reviews
- Governance and compliance assessments
- Financial controls reviews
- Operational process audits
- Fraud risk assessments
- Cyber security and IT controls reviews
- Procurement and contract management audits
- Grant and funding compliance audits
- Follow-up reviews and action tracking
- Board and Audit Committee reporting
- Outsourced internal audit services
Challenges We Understand
Organisations today face increasing scrutiny from regulators, stakeholders and governing bodies, alongside growing operational and cyber risks. We understand the challenges of:
- Maintaining effective governance frameworks
- Identifying and managing emerging risks
- Ensuring compliance with regulations and policies
- Demonstrating accountability to stakeholders
- Protecting against fraud and financial loss
- Improving operational efficiency
- Strengthening internal controls
- Managing organisational change and growth
Our team provides independent insight and practical recommendations that help organisations enhance performance while maintaining effective oversight.
More Than Compliance
Internal audit should deliver more than assurance. It should provide valuable insight into how your organisation operates and identify opportunities for improvement.
We work collaboratively with management and governing bodies to provide constructive challenge, highlight best practice and support continuous improvement, helping your organisation build resilience and achieve its objectives with confidence.
Why Choose Us?
- Independent and objective assurance
- Risk-based, proportionate approach
- Experienced sector specialists
- Practical recommendations that add value
- Clear reporting for boards and committees
- Flexible support tailored to your organisation
Speak to our internal audit team today to discover how independent assurance can help strengthen your organisation’s governance, risk management and control environment.
Meet the experts
Frequently Asked Questions
What is internal audit?
Internal audit is an independent review of your organisation's processes, controls, governance and risk management arrangements. It provides assurance to management and governing bodies that systems are operating effectively and identifies opportunities for improvement.
Does our organisation need an internal audit function?
While not all organisations are required to have an internal audit function, many choose to do so as a way of strengthening governance, managing risk and improving operational effectiveness. Certain regulated organisations, charities, housing associations, education providers (including further and higher education) and public sector bodies may have specific requirements.
How is internal audit different from external audit?
External audit focuses primarily on the accuracy of financial statements. Internal audit has a broader remit, reviewing financial controls, operational processes, risk management, governance arrangements and compliance across the organisation.
What areas can internal audit review?
Internal audit can assess a wide range of areas, including:
- Financial controls
- Risk management
- Governance frameworks
- Payroll processes
- Procurement and purchasing
- IT systems and cyber security
- Human resources procedures
- Regulatory compliance
- Health and safety controls
- Project management and major change programmes
What are the benefits of internal audit?
Internal audit can help organisations:
- Identify and manage risks
- Strengthen internal controls
- Improve operational efficiency
- Reduce the risk of fraud and error
- Enhance governance and accountability
- Support regulatory compliance
- Provide assurance to boards and stakeholders
Will internal audit disrupt our day-to-day operations?
No. We work closely with management to minimise disruption and tailor our approach to your organisation. Most reviews are planned in advance and designed to fit around operational requirements.
What happens during an internal audit review?
An internal audit typically involves:
- Agreeing the scope and objectives
- Reviewing policies, procedures and documentation
- Conducting interviews and testing controls
- Evaluating findings and identifying risks
- Reporting recommendations and agreed actions
- Following up on progress where required
How often should internal audits be carried out?
This depends on the size, complexity and risk profile of your organisation. Some businesses undertake annual audit plans, while others commission reviews of specific areas as required.
Can internal audit help identify fraud risks?
Yes. Internal audit can assess fraud prevention controls, identify areas of increased risk and recommend measures to strengthen protection against fraud, financial crime and irregularities.
Can you provide a fully outsourced internal audit service?
Yes. We can act as your outsourced internal audit function, providing independent assurance, audit planning, reporting and ongoing support throughout the year.
What does an internal audit report include?
Reports typically include:
- Executive summary
- Scope and objectives
- Key findings
- Risk assessment
- Recommendations for improvement
- Management responses and action plans
Who receives the internal audit report?
Reports are usually provided to senior management, directors, trustees, governors, audit committees or boards, depending on the organisation's governance structure.
How long does an internal audit take?
The timeframe varies depending on the scope and complexity of the review. A focused review may take a few days, while a broader organisational audit programme may take place over several weeks or months.
Will internal audit identify weaknesses?
In most cases, yes. Our methodology is thorough, so it is rare for a review not to identify any weaknesses, although it is possible. Where we do find them, we explain the risk clearly and agree practical actions with management to address them.
Can internal audit help improve efficiency as well as compliance?
Absolutely. Internal audit is not just about identifying weaknesses. It can also highlight opportunities to streamline processes, improve controls, reduce costs and make better use of resources.
How much does internal audit cost?
Costs vary depending on the size of your organisation, the scope of work and whether you require a one-off review or an ongoing internal audit programme. We will provide a tailored proposal based on your specific requirements.