Whether you want to initiate a best in class internal audit function or make changes that increase the value of your current function, it can be difficult to know where to start. Very often, like Newton’s first law of motion, it’s easier to remain with current practices than determine what’s needed to institute meaningful and lasting change. V.Ramaratnam & Company’s internal audit consulting services can help.
A significant obstacle to launching or enhancing an internal audit function is developing a clear picture of internal audit’s strategic role within your company. Today’s complex business environment demands that internal audit expand its activities. This often requires the internal audit department to be elevated to a strategic partner, becoming involved in all activities surrounding governance, risk and compliance, with the objective of improving risk identification, leveraging organization-wide synergies and rapidly identifying new threats.
Because internal audit departments vary from organization to organization, many companies require internal audit consulting to ensure their departments are developed strategically. This is where we come in.
Our professionals work with your internal audit stakeholders to gain consensus on the desired mission for internal audit within the organization. We then help you develop and deploy an effective internal audit model in order to achieve these well-defined objectives.
Having great vision is important, but in order to derive any value, the vision needs to be effectively implemented. Our objective advice and guidance can make it easier to arrive at your destination. Using best practices developed over our years of experience and a risk-based, methodology our internal audit teams bring confidence and efficiency to your internal audit development process.