What is Audit?

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Audit and Assurance

Auditing is a highly complex process, and the importance of auditors as a vital link in the financial reporting chain has never been more essential nor their role as trusted advisors more valued. The Deloitte audit professionals provide a range of audit and advisory services to assist clients in achieving their business objectives, managing their risk and improving their business performance.

Deloitte professionals help organisations enhance the effectiveness, quality, and value received from internal audit. Deloitte’s broad understanding of risks and areas of operational improvement — particularly the nuances of specific industry sectors and markets — can help internal audit functions improve their performance and operating efficiency and bring value to their organisations.

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Deloitte member firm outsourcing engagements are recurring in nature and comprise the performance of all internal audit activities including the annual planning, execution of the annual plan, and reporting to management and the audit committee. Under an outsourcing arrangement, the client may or may not have a chief audit executive in place within their organisation.

Internal audit outsourcing

Performing a high-quality audit and sustaining the public trust

Within our global network of Deloitte member firms, we have robust audit tools, resources and procedures to provide the means for our professionals to deliver high-quality audit services. In delivering these services we adhere to the highest standards of independence, professional objectivity, and technical excellence.

Our international audit approach is applied consistently around the world, while providing the flexibility to serve the unique circumstances and complexities of our clients. Our audit approach focuses on understanding the clients’ global business and control issues from the inside out. It combines a rigorous risk assessment, diagnostic processes, audit testing procedures as well as a continuous assessment of our clients’ service performance.

Subject Matter Expertise sourcing represents specific individual engagements where the client requires Deloitte's specialist skills and knowledge to deliver internal audit services. Typically, Deloitte member firm professionals either conduct the entire project on behalf of the client or combine specialist resources with the client team to deliver the internal audit engagement.

Internal audit expertise/SME sourcing

The Institute of Internal Auditors (IIA) International Standards for the Professional Practice of Internal Auditing requires companies to conduct an independent quality assessment of their internal audit function at least once every five years.

Internal audit effectiveness reviews (QARs)

Internal audit transformation engagements represent assignments to assist an internal audit function evolve and transform to become more effective and deliver increased value. Areas of focus may include, but are not limited to, methodology, team matters, use of technology, and internal audit reporting. The buyer of these services may be the chief audit executive, management, or the audit committee of the board of directors.

Internal audit transformation

Our main service offerings

  • Statutory and international financial statement assurance
  • Quarterly reviews
  • Grant audits
  • Regulatory reporting assurance

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