Internal Audit

Internal Audit The Institute of Internal Auditors (IIA) defines as:

‘An independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations. It helps an organisation achieve its objectives by bringing a systematic, disciplined approach to evaluate and approve the effectiveness of risk management, control, and governance processes’

As the scale and complexity of the regulatory demands on organisations increase, together with the growing need of accountability and transparency, the role of Internal Audit is becoming increasingly important.

Our team of professionals consists of experts in best practice internal audit methodologies with deep expertise in supporting clients in both the private and public sectors. Our team can provide:

  • Outsourced or co-sourced internal audit services;
  • Quality and performance review of internal audit functions; and
  • Internal audit secondments.

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The Service You Deserve

  • Provide assistance in developing the Internal Audit charter and the Audit Committee charter.
  • Provide assistance in developing the strategic internal audit plan derived from a risk-based approach which
    considers strategic, operational, reputational, financial and IT aspects of your organisation. This can be
    achieved by way of questionnaire, interview or risk workshop and will be delivered with your extensive input.
  • Perform each internal audit based on the following approach:
    • On site planning meeting
    • Agree and document the audit scope in advance of fieldwork
    • On site closing meeting to discuss draft findings
    • Issue a draft report for review
    • Obtain management responses for inclusion in the draft report
    • Present the draft report to the Audit Committee
    • Issue the final report to the Audit Committee and senior management
  • Conduct follow up internal audits as agreed with the Audit Committee.
  • Track internal audit findings and recommendations in an issue tracking document

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  • Pinnacle Consulting provided our organisation with an excellent, value for money Internal Audit Service on a number of specific Internal Audit assignments. The work completed by the firm was very focussed on the business needs of the organisation and the assignments were Partner-led, which means you get the expertise and experience of the firms most senior staff at a very competitive price.  The service delivery was also excellent with timescales adhered to, regular updates on progress provided and minimum disruption to the business units while the audit work was undertaken.  The quality of the service provided, the work undertaken and the reports provided clearly demonstrates the experience and professionalism of the firm in their approach to everything they do. 

    Our company is a high-tech SME exporting to blue-chip pharmaceutical, biotechnology companies and academic institutions world-wide. We chose Pinnacle Consulting as our auditors due to their attention to detail, their thorough approach and their professional attitude throughout the audit process. Pinnacle Consulting carefully plan the first audit meeting with pre-audit check-lists already received in advance. The on-site stock take was efficient and there were immediate responses to any queries regarding financial statements. Overall, Pinnacle Consulting provide an excellent professional service which we intend to use again. 

    We are a not for profit organisation, with some complex transactions and contracts. Pinnacle Consulting put systems and procedures in place that now give us great confidence in our financial reporting, and which have also improved the quality of reporting from our commissioned services. Pinnacle Consulting has proven to be consistently professional, efficient and offer real value for money.