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Internal Audit Transformation

Internal Audit Transformation Overview

Many internal audit functions, even within the FTSE 100 Listed Companies, have grown organically over the years without an initial world class architectural blueprint in place to guide the construction of a relevant and coordinated function.

This should align both Risk Management and Assurance efforts throughout the organisation to benefit the regulatory protection of the Board of Directors and Senior Executive Management teams.

Our consultants are highly experienced in synchronising the needs of people, processes and technology so that, when coordinated with the other risk and control efforts within a complex organisation, they produce both value and assurance.

Internal Audit Transformation Overview

Many internal audit functions, even within the FTSE 100 Listed Companies, have grown organically over the years without an initial world class architectural blueprint in place to guide the construction of a relevant and coordinated function.

This should align both Risk Management and Assurance efforts throughout the organisation to benefit the regulatory protection of the Board of Directors and Senior Executive Management teams.

Our consultants are highly experienced in synchronising the needs of people, processes and technology so that, when coordinated with the other risk and control efforts within a complex organisation, they produce both value and assurance.

How will Internal Audit Transformation help us?

“It is vital to have a single governance value channel that is visible, valuable and verifiable.”

Typical Business Challenge

In the modern economy, change is a constant.  Businesses are making significant investments to improve their performance to remain competitive.  For most, return on investment remains illusive and the root cause can often be traced to the alignment of the risk management and assurance efforts.  It is vital to have a single governance value channel that is visible, valuable and verifiable.

Organically developed internal audit functions, particularly ones developed over long periods of time, often lack the process-level subject matter expertise, analytics skills (with related tools) and modern coordination talent needed to assemble all the internal efforts into a single delivery path to achieve immediate risk and control insight.

Contact us today about your requirements

“It is vital to have a single governance value channel that is visible, valuable and verifiable.”

How will Internal Audit services help us?

Typical Business Challenge

In the modern economy, change is a constant.  Businesses are making significant investments to improve their performance to remain competitive.  For most, return on investment remains illusive and the root cause can often be traced to the alignment of the risk management and assurance efforts.  It is vital to have a single governance value channel that is visible, valuable and verifiable.

Organically developed internal audit functions, particularly ones developed over long periods of time, often lack the process-level subject matter expertise, analytics skills (with related tools) and modern coordination talent needed to assemble all the internal efforts into a single delivery path to achieve immediate risk and control insight.

Contact us today about your requirements

Why B2E?

B2E Consulting places strong emphasis on the architectural design of the internal audit function and people, processes and technology used to ensure alignment along the risk and control critical path to assurance needed at the Board and Executive levels.

High impact internal audit functions require certain design principles to be in place to ensure that aligned risk management and assurance activities throughout the organisation are coordinated into a single functional area that is independent of the internal management structures.

Effective internal audit functions require that the people, processes and technology be capable and authorised to ensure that governance exposures to the Board and Executive Management teams are visible, managed and controlled.

Design Principles

Coordinate with other risk and assurance functions within the organisation annually a universal Risk Universe

Quantitatively risk-rank the Risk Universe and allocate an Annual Audit Plan to provide the assurance needed for the Board and Executive Management team.

Staff and conduct individual internal audit reviews using data analytics to determine the transaction level of residual risk and quality of the controls to manage the business.

Report the overall state of the internal controls to the Board and Executive Management team.

Working with B2E’s Internal Audit Transformation Principal

Terrence McGrane is a senior and highly experienced global internal audit executive with more than 12 years at Partner-level for 3 of the Big 4 firms focused on internal audit transformation services.  He has also held permanent Head of Internal Audit roles for 4 US Fortune 200 publicly traded companies.

He has initiated his own internal audit services companies; one focused on data analytics within the internal audit process and one focused on providing Head of Internal Audit/Risk Management services on a one-year transformation basis for multiple FTSE 30 companies in Europe.

Terrence has extensive global internal audit credentials having spent more than 16 years living and working in 56 countries on 6 continents.

He has been published often and is a regular key note speaker on the topic of internal audit transformation. Terrence has a long history of advising Board and Executive team members on generating high-impact internal audit value.

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