Risk identification and risk management are critical for safeguarding your organization against potential threats. In some ways, it may seem like the objective is foreseeing the future. While most of us don’t keep a crystal ball or a Magic 8 ball handy, you can consult business advisors who seemingly have a third eye for detecting and mitigating risks. CRI’s cross-functional internal audit team of IT consultants, CPAs, and forensic accountants is trained to work collaboratively with you to strengthen your internal structure.
CRI’s internal audit team follows a risk-based internal audit approach that can be tailored to your needs. We can assist by outsourcing your entire internal audit department, co-sourcing with your team, or providing project-specific assistance with new portions of your business or routinely testing the significant internal controls within your business processes. The goals are to improve risk assessment, enhance internal audit quality, and lower overall audit costs – as well as provide recommendations for improvements. While we won’t read your palm, the CRI team will strive to help your organization – regardless of your industry – streamline efficiencies and protect your bottom line.
|CLIENT:||Large state higher education system (eight universities)|
|SCOPE:||Co-sourcing and complete redesign of internal audit program|
|PROJECTS:||— Development of system-wide comprehensive risk assessment,|
— Implementation of internal audit administrative system,
— Development of detailed policies and procedures guide to manage system-wide internal audit program,
— Development of comprehensive internal audit plan based on quantifiable measured assessed risk,
— Training university internal auditors in paperless audit process, and
— Standardization of reporting processes and performance protocols for all internal audit departments within the system.
|RETURNS:||— System-wide internal audit charter conforming to internal audit standards,|
— Comprehensive three-year, risk-based internal audit plan,
— Integrated paperless internal audit administrative and management system (with direct linkage to risk assessments),
— Internal audit procedures and audit programs, and
— Centralized audit findings for effective monitoring of and follow-up on remediation plans.