Internal Audit

Risk Assessment and Internal Control

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Why Internal Audit?

Lack of good governance, risk management, and internal controls can be fatal for any company and can lead to loss of money, customers, reputation, data, and assets. Internal audit helps ensure that the company’s governance, risk management, and internal controls are appropriate to ensure the company is best equipped for success.

The best internal audit not only provides assurance and recommendations to the board and audit committee but also adds value to the entire company. It helps the company’s management ensure that the company’s future dreams and visions are built on a strong foundation and tests the effectiveness of internal controls. Internal audit covers not only financial processes but spans all risks, processes, and activities that are important for the company’s success. The best internal audit reports recommendations in a timely manner, allowing companies to act proactively to minimize risks and achieve the best earnings.

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How Can BDO Help You with Internal Audit?

We develop and implement tailored internal audit solutions that cover both small and large companies. Our services range from comprehensive risk assessments across the entire company to designing internal audit programs and reporting results to management, the board, and other stakeholders. We do not only focus on identifying challenges. We use our insights to guide the company in making optimal decisions. We work closely with management to implement customized solutions and appropriate control measures. BDO’s Internal Audit Services offer tailored frameworks that consider the specific needs of each company, regardless of industry, or if they already have an internal audit department. Our approach is unique and practice-oriented, and we draw on specialists when necessary. Thus, we provide our clients with access to local resources, supported by a global network of professional colleagues with a presence in more than 1,750 offices in over 166 countries worldwide. We have access to experts in technology, AI, and data analysis, which supports our offering of effective and modern audit methods. In the regulatory area, we also have experts in, for example, ESG, NIS2, and DORA. At BDO, we emphasize value creation, quality, and responsibility. We focus on each individual client company and help our clients achieve their dreams.
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BDO Internal Audit Services offers:

Outsourcing of internal audit. Co-sourcing of internal audit. Establishment of internal audit and second line functions (e.g., risk management, compliance, and IT security). Advisory on processes and internal control measures. Data analysis. Continuous audit monitoring. Quality assurance control (i.e., internal quality assurance and external quality assessment). Guidance on audit committees.

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