Internal audit should be an independent and objective function that strives to continually help you evaluate whether you are: 1) safe, sound and in compliance, 2) efficient and effective, and 3) thinking ahead. We demonstrate this through the consistent application of our internal audit methodology and our focus on oversight, insight, and foresight.
Many internal audit functions focus only on “oversight” (i.e., the ability to comply with Company policy or internal directives), we believe the value-add aspects of our execution and recommendations are derived from the emphasis on “insight” (i.e., the ability to operate faster, smarter, or cheaper) and “foresight” (i.e. the ability to operate in a manner that not only embraces the current time period, but also embraces the future).
We can meet all of your internal audit needs under a continuous full-service outsourcing arrangement, reporting to the audit committee and an appropriate corporate officer, in order to assure the proper degree of objectivity and independence. Our professionals have assisted hundreds of companies using this approach, each one tailored to meet our client’s unique needs.
Advantages to Outsourcing
Outsourcing internal audit enables you to maximize the productive and profitable use of your business resources. Our services and recommendations add value; we make sure that quality, practicality, and efficient controls are built into your business processes and technology.
Allows for more efficient and flexible staffing
Protiviti can quickly react to changes in the organization’s risks, audit needs, and staff augmentation. This eliminates the organization's risk of hiring and retaining qualified audit employees.
Eliminates employee carrying costs
Protiviti gives you access to skilled resources on an as-needed basis. You pay for only what you need, where you need and how long you need internal audit resources. Eliminating employee benefit costs, retirement and stock compensation costs, etc.
Access to a diverse bench of audit expertise
Creates larger pool of resources and expertise that can be accessed as needed. Able to leverage the Protiviti audit methodology, training and management of resources.
Higher audit productivity
You pay for internal audit work only; no downtime, training, recruiting and other non-audit activities. We employ the leading edge internal audit practices and technology.
We are in a better position to give undiluted, more candid views of an organization’s strategies, controls, processes and systems.