Internal Audit

Our Internal Audit services provide independent assurance and insight across the full internal audit lifecycle, from strategy through to execution and follow‑up. We support organisations to not only meet regulatory and professional standards, but to strengthen governance, risk management and control effectiveness in a way that adds practical value.

Our services cover:

• Outsourced, co‑sourced and managed Internal Audit delivery, aligned to IIA Standards and relevant sector codes.
• Internal Audit strategy and operating model design, including assurance mapping, risk assessment and audit planning.
• Risk‑based and thematic audits across financial, operational, regulatory, technology and conduct risk.
• External Quality Assessments (EQAs), benchmarked against IIA Standards and leading practice.
• Methodology, QA and transformation support, helping functions modernise how audit work is planned, executed and reported.

Across all engagements, we focus on consistency, quality and insight, ensuring Internal Audit remains credible, forward‑looking and proportionate to the organisation’s risk profile

We tailor our Internal Audit services by combining a consistent global methodology with deep sector and regulatory expertise. This ensures audit work reflects the risks, controls and regulatory expectations that genuinely matter in each industry.

In practice, this means:

• Designing industry‑specific risk universes, control frameworks and audit programmes.
• Deploying teams with hands‑on sector experience, including Financial Services, corporates, government and healthcare.
• Aligning audit focus to industry regulators, codes and supervisory expectations where applicable.
• Leveraging sector‑specific data and benchmarks to provide context and challenge.

This tailored approach enables Internal Audit to focus less on generic compliance and more on emerging risks, business change and strategic priorities within each industry.

AI can fundamentally enhance Internal Audit by improving efficiency, coverage and insight, while also strengthening consistency and quality.

Key ways AI supports Internal Audit include:

• Automating time‑intensive tasks, such as document review, evidence assessment and report drafting.
• Shifting from sample‑based testing to fuller population coverage, improving assurance confidence.
• Enhancing risk assessment and planning, through faster analysis of large volumes of information.
• Supporting consistent audit execution and QA, embedding methodology and standards into day‑to‑day delivery.
• Freeing up auditor time to focus on judgement, challenge and insights rather than manual tasks.

We see AI as an assistant to auditors, not a replacement – enabling better questions, deeper insight and more value‑adding conversations with management and the Board.

The most effective AI journeys start with a clear vision, goal and objective, that aligns with the broader AI strategy in the organisation. As AI and technology tools can vary in scale, cost and complexity, there needs to be a clear understanding or what is trying to be achieved and how.  

We typically recommend starting by:

• Identifying pain points in the audit lifecycle (e.g. planning, testing, reporting or follow‑up).
• Deploying AI to support standardised, repeatable activities, such as control testing, risk and control documentation, and action tracking.
• Embedding AI in a way that remains transparent, explainable and aligned to IA standards.
• Upskilling auditors and building confidence through guided use, templates and prompt libraries.
• Treating AI adoption as a cultural and capability shift, supported by governance, training and clear guardrails.

This phased approach allows Internal Audit to build momentum, demonstrate value early, and scale AI usage responsibly as maturity increases.