Internal Audit
The role of an internal auditor has changed dramatically in the past few years. Gone are the days when a few high-level operational audits were performed just to “make sure they know someone is watching.” In today’s competitive business climate, internal audits are a vital tool to ensure that potential hiccups in all areas of a company are identified and addressed.
Clearly, no company wants to give an advantage to competitors due to something that could have been mitigated.
In many companies, regulatory concerns have stolen a lot of attention and time from senior management and internal audit resources. As a result, too many companies have lost their key business practice consultants while they attain compliance.
Milo Belle provides experienced professionals and proven processes to quickly assess your key business risks and then prioritizes key remediation and mitigation efforts. In addition, as independent consultants, we deliver clear, insightful suggestions to improve efficiencies and improve business processes.
- IA Approach Guidance
- IA Charter and Structure
- Development of Annual Audit Plan
- Development of Multi-Year Audit Plan
- IA Communication and Notification Plan
- IA Staffing Augmentation
- Independent Testing and Verification
- Audit Findings Remediation and Tracking
- Fieldwork Assistance
- Internal Audit Co-Sourcing & Outsourcing Services
A typical co-source or outsource relationship will consist of reviews of internal control environments, regulatory compliance and the adherence to operational policies and procedures.
Although the specifics of the audit plan will be determined by a formal risk assessment, we often look for answers to the following questions:
- Are the management reports timely and reliable?
- Are KPI’s appropriate and relied upon?
- Will the information systems keep pace with the changes in the operational areas?
- How does your company’s performance measure up against other companies within your industry?
- Are the key processes operating efficiently?
Milo Belle simply does not believe the role of internal audit is to serve as the process police. Although we take great pride in being able to determine where weaknesses may exist, it is our belief that is just the beginning of our responsibility.
Our professionals all have something in common – they are driven by problem solving. Sometimes that may simply entail re-applying a solution which worked on a previous engagement. But often it involves creative problem solving, as very few companies are truly similar. It is during these instances that our collaborative environment becomes very helpful.
We deeply believe that when you put a group of smart people around a table, good things are going to happen and that is exactly what we do when unique or complex issues arise.
