Internal Audit

Internal Audit is now fundamental for many organisations to ensure corporate governance factors of risk management are properly managed. This is done by bringing new areas of high-risk exposure to the attention the Trustees alongside recommendations for business improvements.

Due to the varied skill set involved, many organisations now outsource their internal audit function with the added benefit of increasing the value of any recommendations made due to the independence of the work carried out.

Charity Business adopts a risk based approach (see diagram) focusing on external and internal risks to the organisation.

One area that sets Charity Business apart from others is that we will assist clients with implementing recommendations, if requested or required as part of our internal audit work. This is done is to ensure that improvements to the processes, procedures and policies come into existence as soon as possible.

With some charities, staff do not often know where to start with the recommendations made or how to approach the change. This can result in the recommendation not being implemented and the value of the internal audit work being lost to the organisation.