What do clients expect from consultancy firms regarding internal audits?

Question

Accepted Answer

Clients expect consultancy firms to provide expertise, objectivity, efficiency, and value in internal audit services.

Expertise in industry best practices and regulations
Objectivity in assessing risks and controls
Efficiency in conducting audits and delivering timely reports
Value in providing actionable recommendations for improvement
Examples: detailed audit plans, thorough risk assessments, clear communication of findings

Accepted Answer

An internal audit consultant or internal auditing team provides objective support with operational and financial audit process evaluation, including reviewing company procedures, assessing potential risks and developing a plan for integrating effective internal controls.