Expert Internal Audit services for Dutch FinTechs

As a FinTech located in the Netherlands, you need to comply with relevant laws and regulations and may require specific licenses from the De Nederlandsche Bank (DNB) to operate. To comply with laws, regulations or requirements that come from maintaining a license you may be required to establish a three lines of defense. Part of this three lines of defense is an Independent Internal Audit function. As the external environment continues to change, the demand placed on Internal Audit functions has never been bigger. The growing amount of data and complexity of regulations surrounding this data makes staying in control challenging. At Devence, we are experienced to help fast-growing FinTech’s to navigate through these requirements and can assist to execute these required IA activities in a smart and efficient way.

How we can help you

As a fast-growing FinTech, recruiting and retaining the right skills to successfully fulfill the Internal Audit requirements through a three lines of defense can be difficult and time-consuming. If you do happen to have an in-house Internal Audit function, continuously educating and training employees to stay ahead of new developments in the regulatory landscape could be challenging as well. At the same time, a skilled and experienced Internal Audit capability can be of huge added value to the business. By working together with Devence and outsource or co – source this Internal Audit function, you’re minimizing the time and challenges when establishing an Internal Audit function yourself, and maximize the added value with our experience and knowledge in the market.

According to requirements from regulators, market practices, and industry standards, there are a couple of elements that need to be analyzed and audited throughout the year. These are for example related to:

1. the IT Infrastructure;
2. cyber security;
3. the business model & strategy;
4. financial risks;
5. internal governance;
6. sustainability.

Based on a risk assessment, we will help you to understand which focus elements require the most attention and are of added value to your business. After conducting the risk assessment, we will prepare a detailed audit plan to help you further execute the relevant Internal Audit activities.

Offering what is best-suited for your scale-up or scale-up

Depending on the size of your organization and specific needs, you might have different requirements or want the focus to be shifted elsewhere. At Devence, we will make sure that it aligns with your demands, and we add value to the growth of your business. We can help you to prioritize risks and understand what needs to be done in order to thrive and grow responsibly.

Curious and want to know more? Feel free to reach out to Muriël Hesselberg or Ron Felix!