Internal Audit Department Development

VIP SOLUTIONS CASE STUDY

BACKGROUND

A technology company with multiple material weaknesses and significant deficiencies wanted to create an Internal Audit department to ensure deficiencies are remediated and ongoing audits are conducted in order to provide assurance that risks are mitigated in preparation of going public. 

OBJECTIVES

VIP Solutions Case Study

Develop and align annual Internal Audit plan to the company's strategic goals and objectives.

VIP Solutions Case Study

Develop a plan to staff the newly-formed Internal Audit department.

5

Develop and implement an audit approach relating to key activities.

SOLUTIONS

VIP Solutions Case Study

Develop Internal Audit Department roadmap to outline task-by-task processes for incoming resources.

VIP Solutions Case Study

Assess and develop internal audit staffing and training plan.

5

Assess Internal Audit technology and software needs to support audit activities.

VIP Solutions Case Study

Develop and implement audit approach relating to SOX, financial, operational, IT and fraud audits.

Successfully created an internal audit department and
operationalized audit activities that remediated control deficiencies, improved processes and better managed risks.