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
Develop and align annual Internal Audit plan to the company's strategic goals and objectives.
Develop a plan to staff the newly-formed Internal Audit department.
Develop and implement an audit approach relating to key activities.
SOLUTIONS
Develop Internal Audit Department roadmap to outline task-by-task processes for incoming resources.
Assess and develop internal audit staffing and training plan.
Assess Internal Audit technology and software needs to support audit activities.
Develop and implement audit approach relating to SOX, financial, operational, IT and fraud audits.
operationalized audit activities that remediated control deficiencies, improved processes and better managed risks.