Outsourced Internal Audit :: Array Strategies Inc

By: Array Strategies  09-12-2011
Keywords: internal audit, Internal Audits

Outsourced Internal Audit

There is a growing group of organizations that have recognized the need to outsource the internal audit process. Enterprises of all manner and description have recognized that in order to realize the full potential of the internal audit process external augmentation is required.

The internal audit of your operational management control system should:

  • Confirm the efficacy of risk management controls, or expose unmitigated risk
  • Identify aspects of operational controls that do not comply with defined criteria
  • Identify barriers to successes within process flows
  • Ensure the internal supply chain interfaces are operating efficiently

It is challenging for internal resources to execute audits that achieve the above objectives. This is due primarily to the fact that the internal audit function is usually a responsibility that is added to the tasks of personnel already fully occupied. Additionally it is virtually impossible for internal resources to be as constructively objective as needed for an optimal audit outcome. In a flat organization this stems from the fact that the auditor, by definition, likely has a vested interest in one or more of the processes audited. In a hierarchical organization audit objectivity may be impaired by actual or perceived potential for reprisal from negative audit results. Furthermore, internal personnel with the organizational insight necessary to properly assess the control systems, from a strategic perspective, are typically not available.

Internal audits conducted by Array follow the intent of ISO 19011 and are assured to meet any requirements imposed by registration bodies.

In addition, our audits provide a valuable source of constructive criticism of your process controls, interfaces and metrics.

Keywords: internal audit, Internal Audits

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