Internal Audit Co-Sourcing
IRSL’s Internal Audit Co-Sourcing professionals provide organizations with all of the technical and expert resources they require on-demand, without the need to hire full-time staff.
“Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.”
– Definition of Internal Auditing, Institute of Internal Auditors IIA
For entities of all sizes, hiring and motivating specialized resources in-house is nearly impossible. That's why it makes sense to partner with a firm like IRSL to provide specialties such as technology auditors or fraud examiners. At IRSL, we can provide you with access to specialists at rates that are competitive with in-house resources.
IRSL’s internal audit co-sourcing solutions enable organizations to determine how best to fit not only their project needs, but also their budgets. Carrying underutilized Full Time Equivalents (FTEs) in terms of salary and benefits for an entire year can be very costly for not only an Internal Audit Department but an organization as whole.
Internal Audit Co-sourcing Service Levels
- Staff Support: Using IRSL’s internal audit professionals to meet your staffing requirements during the peaks of the audit cycle can also help cut operating costs during off-peak periods.
- Specialist Support: IRSL’s certified specialty resources and industry experts afford companies the opportunity to get the project expertise when they need it.
- Turnkey Audit: IRSL resources can also execute the entire project including planning, execution, and delivery of the final report.
Internal Audit Co-sourcing Services
Our specialized Internal Audit Co-sourcing Services include:
- Enterprise risk assessments
- Fraud risk assessments
- Operational & business process audits (e.g., supply chain audits, executive compensation audits, advertising audits)
- Store/branch audits
- Contract compliance audits (e.g., service level agreement audits, post construction audits)
- Forensic audits
- Regulatory compliance audits
- Data analysis & computerized testing (e.g., ACL, MS Access, 3rd party reporting tools)
- Training (e.g., ACL, controls testing, IT auditing)