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Internal Audit Outsourcing

End-to-End Solutions

Types of internal audit outsourcing:
- Full outsourcing: where the entire function is carried out by an external provider which is  generally different firm from the organisation’s external auditor.
- Partial outsourcing: where less than 100% of the internal audit services are purchased from external sources.
- Co-sourcing: A need for this type of outsourcing can arise due a temporary shortage of internal audit staff coupled with the need to meet tight deadlines; special project work; difficulties perceived in recruiting suitably qualified internal auditors; coverage of remote business sites; skill shortages or for reviewing compliance with new pan-national regulatory regimes (e.g. GDPR or Sarbanes-Oxley).

Subcontracting: this is where a specific engagement or part of an engagement is undertaken by a third party, usually for a limited period.

Benefits of Outsourcing

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. In a small internal audit function, some outsourcing can provide the audit committee with adequate assurance, particularly in key risk areas requiring a high level of expertise. 
. Flexibility in staffing resources.
. The organisation may gain from co-sourcing by having access to specialist expertise, innovations in the latest audit techniques, technology and the opportunity for bench-marking.
. The perception that the independence of the internal auditor from management would be strengthened.
. It may provide greater value for money to outsource internal audit.
. Some degree of outsourcing may revitalize a long - established internal audit function.

How IAS can help?

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IAS uses a risk-based approach that focuses on clients' business objectives, regulatory requirements and risks. With our very experienced and expert team, we can provide a multi-modal solution to meet your needs.

End-to-End  Intelligence

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Photos used under Creative Commons from Bestpicko, Rawpixel Ltd, verchmarco Sebastiaan ter Burg
  • Home
  • Cardio-1
  • Caribbean Boutique Hotels
  • Plummy
  • HiPoint
    • Agricultural Pollution
  • Terratonics
  • Contact
  • About
  • Services
    • Startup to Unicorn
    • Funding Europe
    • Funding India
    • Digital Transformation
    • Digital Strategies
    • IT Asset Management
    • Data Ecosystems
    • Cloud Services
    • Strategic Implementation
    • Virtual Leaders
    • Audit & Accounting
      • Accounting & Financial Reporting
      • Internal Audit Outsourcing
      • Accounting Outsourcing
      • IFRS
      • Transaction Services
    • Risk and Compliance
      • Enterprise Risk
      • Operational Risk
      • Third-party Risk
      • Basel III
      • Corporate Social Responsibility
      • Training
    • Covid/BCP
    • Credit
      • Basel IV
    • AML
      • AML Training
    • Cyber Security
    • Marketing
    • Trading
    • Privacy
    • Change Management
  • Industries
    • Financial Services
    • Capital Markets
    • Structured Finance
    • Pension Services
    • Credit Unions
    • Asset Management
    • Brokerage
    • Corporations
  • Experts
    • Ken Clarke
    • Bijan Alagheband
    • Basel Anbari
    • Andrea Aimi
    • Wadih Antoun
    • Kapil Arya
    • Katia Barakat
    • Sharon Bauer
    • Mo Bhamra
    • Tim Boucher (CIA)
    • Dan Brennan
    • Michael CamilleriI
    • Michael Castro
    • Chiranjib Chatterjee
    • Mumtaz Chaudhary
    • Shaheen Chaudhary
    • Sudha Datta
    • Mark Dougherty
    • Warren D'Souza
    • André Fortier
    • Mike Firth
    • Frank Grigg
    • Paul Hedges
    • Andrew Hockin (Compliance)
    • Ken Green
    • Harry Gundy
    • Jim Harris
    • Mitch Hirshhorn
    • Sumit Jha
      • Sumit Experience
    • Elyan Jabre
    • Balveen Kaur
    • Kshitij Kaushal
    • Rohin Khurana
    • Data - Kieng Iv
    • Ron Kusano
    • Rebecca Lai
    • Mark Levesley
    • Cecily Ma
    • Tom O'Carroll
    • Simran Makkar
    • Sahil Malik
    • Terry Martinuk
    • Ed Mathur
    • David McIntosh
    • Indranil Mitra
    • David O'Marra
    • Arlene Palango
    • Doug Pirie
    • Karthikeyan Raaj
    • Jayanth Rao
    • David Rose
    • Dhritiman Roy
    • Nandini Roy
    • Dhruv Sachdev
    • Dominic Vogel
    • Bing Wang
    • Terence Yhip
    • Digital Solutions
  • Careers
  • Privacy Policy
  • Disclaimer