Services

Deloitte Internal Audit

Market leading practice

We give organisations the confidence to responsibly grow and execute on their strategic objectives. We provide assurance and advice over the biggest risks and threats that internal and external environments present, helping organisations anticipate emerging challenges and accelerate learning to drive action. We help businesses transform and adapt to rising stakeholder demands, embrace technology and develop new ways of working. We apply the Standards for the Professional Practice of Internal Auditing that are issued by the Institute of Internal Auditors (the “IIA Standards”), as well as the Public Sector internal Audit Standards (PSIAs) where applicable and

How we can help

Outsource

We have the tools, technology and experience to offer a fully managed solution, operating the entirety of your organisation’s Internal Audit function. This managed solution, gives you access to an assurance capability that’s market-leading and provides you with oversight, increased connectivity and collaboration across all lines of defence.

Co-source internal audit support

Working together with your in-house Internal Audit function, we support the organisation to understand and assess the management of their biggest risks and threats to their organisation, and its success. We work in partnership with your in-house Internal Audit function and seamlessly integrate subject matter experts and experienced Internal Audit professionals into the assurance process to bring challenge insights and connect Internal Audit functions to the breadth and depth of our firm.

Our operating models provide bespoke co-source assistance to meet your requirements, whether that be augmenting your audit project team; taking end-to-end responsibility for specific audit project delivery; or providing expertise seconded resource to support your Internal Audit function over an extended period.

We can provide subject matter experts across the full spectrum of risks, including cyber threat management, SAP S4 Hana, Environment, Social & Governance, organisational culture, third party risk, GDPR, diversity and inclusion, digital risk, amongst many others. Similarly, we can bring deep industry expertise to target specific areas of regulation or risk such as conduct and compliance, prudential regulation, capital, liquidity, financial crime and model risk.

Advisory

Through our market leading vision of the future function - Internal Audit 3.0 - our dedicated Internal Audit advisory business helps Internal Audit functions to elevate their performance and create impact for the organisations they serve. We do this through a wide range of services.

Establish:



First time function set up

For organisations taking their first steps in creating an Internal Audit capability. We help accelerate the establishment of an effective Internal Audit function, leveraging a tried and tested blueprint. Creating fit-for-purpose, cost-efficiency, and a roadmap for the future that can evolve as your organisational assurance needs expand.

Improve and adapt:



Advisory labs

The business environment is constantly evolving and demands innovation. The Internal Audit function requires new approaches to meet evolving stakeholder needs, we help set, refresh and re-imagine their purpose, vision, and strategic priorities to create impact and value for their organisations.



Methodology

We support Internal Audit functions design, build and implement new ways of working and re-imagine existing practices across the audit lifecycle.



Agile Internal Audit

As a leader in applying Agile Internal Audit, we help Internal Audit functions to embrace agility as a means of enhancing quality, speed, responsiveness, engagement, impact and adaptability. For more experienced agile functions, we can elevate and expand the use of agility across the audit lifecycle.



Digital Internal Audit

Technological advances and trends in advanced analytics, robotic process automation, and artificial intelligence are rapidly reshaping Internal Audit’s operating models, improving productivity, and enabling innovation in the way Internal Audit provides value. We help Internal Audit functions set their digital strategy, identify opportunities to use automation and implement new tech-enabled ways of working in areas such as dynamic risk assessment, management dashboards and automated Audit Committee reporting.



Learning and development

Attracting, developing and retaining the skills, and capabilities, to drive impact in an agile and digital world is critical to Internal Audit’s success. Our Internal Audit Development Pathway is a flexible, on-demand learning programme for Internal Audit practitioners, built on years of Deloitte professional expertise.

Assess and benchmark:



External Quality Assessment

Organisations responding to the BEIS Audit and Assurance policy recommendations must consider the effectiveness of their Internal Audit functions. The Institute of Internal Auditors (IIA) recommend an independent external quality review is performed at least once every five years. We work with Boards and Audit Committees to assess their Internal Audit function’s conformance with industry expectations, relative performance against peers and provide recommendations to enhance the effectiveness and strategic positioning of Internal Audit.



Quality Assurance

We have a dedicated team of Internal Audit professionals who specialise in quality assurance reviews who can support the development, management and execution of your quality assurance programmes for Internal Audit functions or support your in-house quality assurance teams.



Benchmarking

An Internal Audit function’s role, remit, size, and shape should reflect the organisational context in which it operates. Our bespoke and tailored benchmarking helps organisations challenge and inform their approach to Internal Audit.

Key Contacts

Peter Astley

Peter Astley

Partner, Risk Advisory

Peter focuses on the provision of Internal Audit, Risk Management and other control and assurance related services to the Corporate Sector. He is the firm’s Global and EMEA lead Internal Audit Partner... More

Russell Davis

Russell Davis

Partner

Russell is a partner in Deloitte's Financial Services Audit Group. He has specialised in Banking and Capital Markets for over 22 years, in the UK and overseas, providing a range of audit, assurance an... More