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Internal Audit

Our Approach

In an environment of increased risks ranging from misappropriation of funds to cyberattacks, strong internal controls have become a critical business practice for all companies, whether or not they are required to comply with Sarbanes-Oxley (SOX).  Our internal audit specialists work with a wide variety of organizations to create more effective internal control structures and improve their operations. A robust internal control system reduces your chance of fraud and helps you protect your key assets, improve your operational efficiency, and ensure legal and statutory compliance.

When working with Armanino, you get responsive, high-level expertise tailored to your needs. Our seasoned internal audit team has significant industry, Big Four and other professional services experience with public and private companies, including pre-IPO companies. We are committed to efficiency, timeliness and value, and we offer a range of services to meet the specific risks and requirements of your organization.

Armanino can help your company staff up with internal audit expertise through our outsourced approach.  Additionally, we can support your growing organization as you build an in-house internal audit program from scratch.

Services

Armanino provides outsourced internal audit services, as well as development and evaluation of in-house internal audit programs.

Operational Audits

Our specialists will review your current internal control structure and provide you with a detailed evaluation, including recommendations for strengthening the internal control system. The audit also gives you an independent evaluation of the efficiency of your current operations.

If your business needs to implement internal controls, our operational audit will typically start with a top-level evaluation of the risks inherent in your operations. Using this analysis, we provide you with a risk rating, prioritizing the processes, functions and cycles that require an internal control review. Once the review is complete and our recommendations are implemented, we conduct periodic audits to ensure that the internal control procedures are in place and functioning as designed.

Internal Control Evaluations

For small companies, or those that do not need an ongoing internal audit presence, we offer internal control evaluations.  This is an efficient, cost-effective way to analyze specific segments of your operations, such as the:

  • Cash receipts cycle
  • Accounts payable cycle
  • Information systems
  • Cash-handling procedures and controls
  • Relationship between sales, purchasing and inventory

Much like an operational audit, we provide you with a comprehensive analysis of the areas reviewed, including recommendations for strengthening and streamlining your internal control system.  We can perform annual reviews and audit risk assessments to prepare you for your external auditor’s requirements.

Whatever your needs are, you can rely on Armanino for customized, cost-effective service that helps you optimize your organization’s internal control processes.

Experts