Some internal audits are policing functions, while others appear more like improvement activities. The ideal solution is usually to balance control and advice in relation to the maturity of the company's management and control regime. The selected nature of the audit work is of great importance to the capacity and competence needs of the internal audit function, while also affecting the choice of audit methodology. If the internal audit function is to succeed it must be willing to focus on themes that are important and relevant to the Board and senior management. This requires high competence, robust methodology and an ability to renew itself in response to changes to company strategy and risk profile.
We are happy to meet for a non-binding discussion about internal audit. Below we identify some current challenges in internal audit, and what PwC can contribute with. Contact us!
Partner I National leader, Audits and Trust Solutions, PwC Norway
Tel: +47 952 60 113