For some public companies, the need for Internal Audit capability (or a Risk Oversight Support Unit) is increasing from ‘nice to have’ to must have in order to meet more stringent risk oversight expectations.
Now, Boards are being directed to oversee risk and control management related to such areas as: financial reporting (SOX/NI 52-109), safety, environment, FCPA, anti-money laundering, privacy and fraud. Reliable reporting to boards on risk status is essential to ensure NYSE, SEC and Canadian regulations are properly met.
We can help you find a more proactive way to manage risk and meet regulations.
Our innovative audit solutions save time, money. And ensure accountability, success.
At Risk Oversight Inc, we support your existing internal audit team or can provide full internal audit capabilities to meet complex risk and audit regulations.
Our risk oversight and audit services strive to:
- Streamline internal audit planning to focus resources where they’re really needed, saving both time and money.
- Provide a reliable picture of current residual risk status with reports to management at all levels.
- Assess and ensure that risk status and cost-effective recommendations to address significant residual risk positions are elevated to the board and CEO.
- Help the board, senior management and business units assess and determine how much retained risk is acceptable.
The 80/20 Solution. Our internal audit packages range from getting 80 per cent of the benefits at 20 per cent of the usual cost—to those designed to meet the most stringent regulatory expectations that can sometimes result from consent agreements, regulatory violations and/or warnings.
Does your IA need help?
“96% of respondents indicated that they needed to make improvements to their Internal Audit function within the next 24 months.”
–Ernst & Young, Unlock the Value of Internal Audit, 2010