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An opportunity to review the internal audit approach

Sayer Vincent

Job security is not what it was, and I get why charities are restricting what already was limited funding on areas like internal audit. It’s not a regulatory requirement, and in this current climate, the cloth needs to be cut accordingly.

As a firm providing an outsourced internal audit service to the sector, we support a scalable and flexible approach, delivered by a team who enjoy working with you to become your best version.

Over time, I have seen internal audit become a valued part of how organisations understand risk, make decisions and build resilience. For some, there is real benefit of a long standing internal audit service; it allows us to get to know you, to understand the changes, challenges and priorities and to recognise the journey you are on. That depth of knowledge helps us offer assurance that is proportionate, practical and rooted in your context.

For others, that type of arrangement is not feasible, and a more flexible approach is needed. One that focuses on the risks that matter most and offers timely insight without the weight of a contract.

We know that the approach is changing, but the need for assurance has not. Trustees and senior leaders still need confidence in the controls that support good decision making. Audit and risk committees still need timely and independent insight.

There is no single model that fits everyone! What matters is finding an approach that reflects your risks, your priorities and your resources.

If your organisation is reviewing its approach to internal audit, these questions may be helpful:

  1. What forms of assurance are already in place?
  2. Are there areas where risk is not being independently reviewed?
  3. Do trustees and senior leaders have confidence in the current controls?
  4. Are audit or risk committees receiving timely, relevant information?
  5. Could a more flexible approach help address specific areas of concern?

We offer internal audit services tailored to your needs. Whether you are looking for a one-off review, ongoing assurance, or support in mapping your current risks and controls, we can help you take a proportionate, practical approach that works for your organisation.