PKF FASSELT SCHLAGE

Accountants &
business advisers

Compliance - Prävention und Aufklärung

Internal audit

Internal audit

The internal audit is the monitor for target-orientated handling of business transactions (operational level), for the functionality of the financial measuring systems (financial level) and for compliance with rules and regulations during operation.

The internal audit reveals the unnecessary loss (ineffective) and the misguided use (inefficient) of resources and hence directly benefits the economic efficiency of companies. It is used as a monitoring instrument for proper sequences of the operational functions and organization as well as for the use of resources there. It reveals deviations from the process and from the targets and hence secures financial success.

We handle both meaningful individual examinations in operational, financial and/or compliance-related processes as well as the operational support for your own internal auditing and co-sourcing for you. If required, our experts also handle the complete performance of the internal audit. The fundamental aim is always to optimise structures and work flows and to create added value for the company.

The control of risks ensures correct use of resources and hence makes success possible in the first place.

Co-sourcing

  • set-up of an internal auditing department
  • reorientation and strategic focusing of the auditing function
  • risk-orientated audit planning
  • qualifying and advanced training of the audit staff
     

Outsourcing

  • support for individual audits or handling of the individual audits
  • complete takeover of the entire audit activity
     

Quality audit and certification

  • benchmark audit of the governance structures
  • certification of the internal audit department

 

Quality assessment of the internal audit

Members of the Supervisory Board, within the scope of their supervisory function, are also supposed to assess the economic efficiency of companies and the effectiveness of the instruments used for this. As a yardstick for the assessment of the internal audit a quality classification with subsequent certification can be used. In that process, quality features are assessed in the following six areas:

  • Organization: how is the internal audit integrated into the overall company organization?
  • Budget: is the staffing of the internal audit economical and does it correspond to the company’s needs?
  • Planning: does the use of the audit correspond to the company’s risk situation and risk assessment?
  • Implementation: is the audit activity performed according to recognized standards with economically viable methods?
  • Human resource development: is action taken to ensure the further development of the professional and social competence of auditors, to ensure an audit according to the most modern standards and to support the company?
  • Management: is the internal audit itself constantly subject to a process of continuous improvement?

 
Partners of PKF Fasselt Schlage are members of international professional associations of internal auditing (DIIR, IIA).