INTERNAL AUDIT SERVICES AND QUALITY ASSURANCE REVIEWS

Today’s internal audit functions are transforming, becoming increasingly innovative, and are expected to be insightful, proactive, future focused, and most of all—value-added. MorganFranklin helps organizations of all sizes increase the efficiency and effectiveness of their internal audit function through co-sourcing or full outsourcing. Additionally, Morgan Franklin helps organizations assess the effectiveness of the internal audit activity, supplying a detailed action plan that validates their conformance with their professional standards and successful practices and identifies opportunities for improvement between the current and desired states.

Internal Audit Services

• Getting Started: Establishing governance to meet SEC listing requirements, including developing an Internal Audit Charter; defining governance, including internal audit policies and procedures and organizational structure.
• Risk Assessment: Analyzing historical and emerging risks that create and preserve value.
• Co-Sourcing: Providing expertise to support internal audit activities, including, communications, risk assessment, planning, testing, and reporting.
• Outsourcing: Providing the full suite of internal audit activity including internal audit activity administration, governance, including development of the Quality Assurance and Improvement Program, risk assessment, planning, testing, and reporting.
• External Quality Assessment Review (EQAR): Assessing the mandatory requirement of a quality review of the internal audit function, including performing a 360-degree evaluation to assess how well Internal Audit meets the professional standards, aligns to stakeholder expectations, and strategic business goals.
• Implementing Audit Platform Solutions: Implementing audit, risk, and compliance management workflow solutions.

Our Internal Audit Framework and Approach

Our approach enables management and the Board, to gain valuable insights around governance, process and controls. Our systematic, disciplined methodology can be tailored to address your unique environment and risks.

Our EQAR Framework and Approach

MorganFranklin Consulting’s External Quality Assessment Review (EQAR) is an independent and objective assessment of compliance with the IIA standards. We help organizations of all sizes assess the effectiveness of their internal audit function, supplying a detailed action plan that validates their conformance and successful practices and identifies opportunities for improvement between the current and desired states.

Benefits:

• Helps align key stakeholder expectations and assists in assessing whether the IAA is meeting or exceeding these expectations.
• Identifies process improvements and enables best practice sharing for the IAA to improve image, credibility, effectiveness, and value to the business.
• Helps establish a roadmap to meet future state requirements (people, rules, tools, and technology) and uses the QAR as a benchmark assessment for future improvement.