Execution of internal audit services in various functional areas with outsourcing of the company’s internal audit (“outsourcing and co-sourcing”)

Provision of internal audit services in case of outsourcing of the internal audit

There could be many reasons why not every company has its own internal audit department or does not equip it with enough resources to independently carry out its tasks.

This is where equia steps in to provide effective, sustainable action. It offers to perform internal audit services for companies in all industries, in situations where a company has outsourced its internal audit or intends to do so. Outsourcing is a great option when it does not make much sense to build up an internal audit department in the short or mid-term or there are economic hindrances to doing so, yet audit services need to be carried out. In the case of outsourcing or outsourcing of internal auditing, equia can assist clients in the preparation of annual audit planning including the underlying risk analysis for the selection of business areas, fields or functions, the creation of audit programs and the actual audit review.

equia staff boasts of many years of cumulative experience from working in internal audits of international corporations. The audit standards of the DIIR (German Institute for Internal Auditing e.V.) are adhered to consistently and ensure the highest possible quality. equia combines extensive audit experience from the areas of purchasing, third party due diligence, sales, accounting, treasury, disposition, donations, sponsoring and order processing. This makes equia versatile and a company that undoubtedly adds immediate value to all affected companies in the short term.

Provision of internal audit services in the event of capacity bottlenecks (“co-sourcing”)

When it comes to co-sourcing, equia supports your internal audit at peak phases when your own resources are simply not enough to deal with the workload. It is not uncommon for companies to face high workloads due to external (e.g., regulatory) or unexpected factors (such as clustering of procedural irregularities in certain business units, broadening the scope of audit due to new risks, changing the business model), which can suddenly increase the need for resources in internal audit. When co-sourcing internal auditing, we support the existing internal audit structures as needed, either assuming management functions or performing purely audit work.

Conceptual and operational work for the successful carrying out of your internal audit

We are happy to assist you in the further development of your own internal audit too, by developing specific audit programs according to your company’s processes, such as purchasing, HR, sales, accounting, treasury, etc. This allows you to examine individual functional areas in a very focused manner and standardize findings over time, thereby generating efficiency in the audit work.

Furthermore, we are happy to accompany young auditors on their first audits, giving them an opportunity to benefit from our insights gained over many years of experience as auditors and / or internal investigators. Client feedback has shown this to be a highly effective way to facilitate the transfer of knowledge from experienced professionals to the new kids on the block.