Increasing pressures from budget constraints, cybersecurity concerns, economic disruption, changing workforces, evolving technology, and more require organizations to operate more efficiently and with greater transparency. Diverse stakeholders with different expectations and demands only further complicate accountability requirements.

Assess current and emerging risks to your organization with a comprehensive internal audit program that can help you achieve reliable financial reports, maintain regulatory compliance, identify process improvement opportunities, and more.

Develop an organization-wide internal audit program with guidance from our professionals—so you can stay focused on your mission and supporting your community.

How Internal Audits Can Help Your Organization

Through an enterprise risk assessment, we identify and evaluate risk across all facets of your organization. Through an entity-wide internal controls review, we help to identify and evaluate internal controls across key functions of your organization.

Leveraging the entity-wide assessments results, we develop an annual internal audit plan—with a focus on the highest risk areas as well as those that may provide opportunities—to provide a foundation for long-term risk prevention and ongoing improvement.

By identifying potential risks on the front-end, you can implement solutions before they develop into major issues that could have significant implications if made visible to your stakeholders—whether the public, commissioners, board committees, appointed officials, management, staff, businesses, or taxpayers.

Our professionals can provide fully outsourced internal audit services for your organization, provide additional support and insights for your existing internal audit capabilities, or perform individual internal audits or process improvement assessments to target a specific area.

Additionally, a comprehensive internal audit program can help:

• Identify, assess, and respond to risks related to finance and accounting, technology, people, third-party contracts, capital programs, and more
• Evaluate performance and identify opportunities to improve efficiency and effectiveness
• Strengthen internal controls and compliance with laws and regulations
• Identify opportunities to increase revenues and decrease expenses
• Prevent and detect fraud

Internal Audit Focus Areas

Based on the unique needs and potential risks of your organization, individual internal audit projects can include a range of focus areas.

Internal Control Audits

Assess and improve controls over key functions of your organization and identify opportunities to improve in areas of underperformance. Identify control deficiencies and recommend improvements to mitigate risks.

Risk areas where an internal control audit can add significant value include:

• Payroll and timekeeping
• Purchasing and accounts payable
• Monthly account reconciliation and closing
• Cash receipts and cash handling
• Revenue and billings
• Accounts receivable and write-offs
• Grant management and compliance
• Inventory and asset management
• Individual departments or programs

Additional Support Areas

In addition to traditional internal audits that focus on internal controls, areas covered by a comprehensive internal audit function can include:

• Construction Audits. Recoup time and financial investments through risk analysis of construction projects.
• Contract Audits. Maintain compliance with contractual obligations and provide support to employees to comprehend applicable responsibilities, deploy ongoing internal monitoring, and more.
• Organizational Assessments. Improve performance, enhance operations, and strengthen your organization’s ability to pursue objectives.
• Performance Audits. Demonstrate performance levels, accountability, and transparency of your organization.
• Strategic Planning. Develop a multiyear plan to guide decisions and a clear path to achieve your desired future state.
• FWA Hotlines and Investigations. Develop and administer response programs for reports of fraud, waste, and abuse (FWA).
• Policies and Procedures (P&P) Assessment. Determine whether key functions are covered by current, documented P&P; identify gaps; and address gaps by developing comprehensive P&P.

Expansive Audit Experience

Deeply immersed in more than 30 industries, our professionals provide internal audit solutions for a range of organizations—including government services such as agencies, cities, counties, and special purpose districts; Tribal; not-for-profit organizations including foundations; higher education institutions; and more.

Matching experience in government, the private sector, and public accounting, our professionals maintain a deep understanding of the unique pressures organizations with governing bodies face and provide internal audit services customized to the nuances of your organization.

Our professionals maintain relevant certifications, such as certified internal auditor (CIA), CPA, certified fraud examiner (CFE), Cybersecurity and Infrastructure Security Agency (CISA), and project management professional (PMP), and are dedicated to continuous training and educational development so our insights remain current and valuable.

Additionally, we administer ethics hotlines—vendors include Navex Global and Lighthouse—by receiving reports, assessing, and disseminating reports, conducting investigations, and performing tracking and reporting.

Instead of simply performing one internal audit, our professionals outline a direction for long-term success—so you’re prepared to meet the ever-changing requirements for whatever challenges your organization may face.