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Internal Audit

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Internal audit responsibilities continue to grow and evolve as identifying and addressing risk is one of an organization’s most important duties for its employees, shareholders, suppliers and customers. Today’s internal auditor is at the center of activities, including:

  • Reviewing enterprise-wide risk management programs
  • Overseeing fraud assessments
  • Monitoring practices that are essential to the protection of mission-critical company assets, including customer data
  • Keeping current on fast-changing IT systems and environments

Countless years of experience with operational and financial auditing, both in the US and internationally, have sharpened our auditing skills to the benefit of our clients. For many organizations, Internal Audit is a requisite element of the control environment. With the help of Armanino, the Internal Audit function can be upgraded to provide greater efficiencies with a positive effect to the bottom line.

Internal audits are frequently driven by regulatory, innovative or transformative objectives. Rather than building large corporate audit staffs, which is costly and time consuming, we at Armanino can readily join, lead or design your team.  Which would bring to your organization the added benefit of our collective internal audit experience without having to commit to the overhead.

Our specialists offer professional internal audit know-how, industry and technical knowledge, and collaborative skills to work effectively with your organization to provide:

  • Access to subject matter and technical specialists
  • Ability to increase audit coverage at peak times without hiring full time staff
  • Access to proven methodology, tools and training
  • Knowledge of latest regulatory and compliance changes
  • Established working relationships with external audit firms and methodologies
  • Cost effective and flexible approach to achieve greater audit coverage when needed without increasing the recruitment, retention, benefit and training costs associated with the commitment of fulltime staff.
  • Access to an independent team when required for 3rd party audits.

Our wide array of internal audit services include:

  • Risk assessment & ERM
  • Fraud risk assessment
  • ERP controls & IT audits
  • Regulatory compliance
  • Targeted operational audits
  • Cost efficiency studies and business process improvement
  • Establishment of an IA function

Resources

IRS to Increase Investigations of Nonprofit Hospitals and Other Exempt Orgs.

Federal tax authorities in February 2010 launched an initiative to expand its scrutiny of the employment tax practices of nonprofit hospitals and other tax-exempt organizations, and Armanino experts say the initiative ...