INTERNAL AUDIT & CONTROL

EVERYDAY CHALLENGES

The current business environment is fast paced, constantly changing and increasingly regulated. Internal Audit departments require forward thinking, strategic internal audit solutions to address situations where:

• Specialised industry, process and/or IT systems experience is needed to accelerate audits and leverage skilled temporary staff
• Flexible management of resources and capacity constraints, linked to variable audit plans and demanding budget requirements, is needed
• Innovative approaches, best practices and/or knowledge repositories are required
• Audit requirements arise in remote locations that cannot easily be serviced in-house
• Company stakeholders increasingly look to internal audit to provide additional assurance that the business is managing its risks adequately

THE ADEPT ADVISORY SOLUTION

Adept’s Internal Audit Strategic Sourcing solution aims to provide your organisation with internal audit infrastructure development, including enterprise risk analysis, entity risk assessment, audit program development, and/or internal audit program execution and reporting services.

These services are provided either on a co-source basis working directly with your existing internal audit team, or a fully outsourced model working independently on behalf of the Audit Committee.

Adept Advisory’s Information Technology (IT) Internal Audit and Digital Solutions mobilizes our team to support our clients’ Digital journey; including automation, robotics and artificial intelligence (AI).

OUR DELIVERABLES

Multiple deliverables exist including:

• Audit plans linked to risk assessments; audit planning memos
• Budgets and resourcing plans
• Audit testing design (both qualitative and quantitative) and documentation
• Audit reports
• Management action plans

SUSTAINABLE BENEFITS FOR YOUR ORGANIZATION

Benefits of Internal Audit Strategic Sourcing include:

• Advanced model risk governance and validation
• Technical expertise; best practices/creative solutions
• Broad multi-industry experience
• Independence
• Consistent quality and continuity of resources
• Flexible staffing levels; gaps filled while recruiting staff
• Reduced training and/or turnover cost
• Improved efficiency and response time
• Knowledge transfer to existing audit personnel
• Complete objectivity or confidentiality
• Proven leadership without recruiting costs
• Reduced travel costs

EVERYDAY CHALLENGES

• Internal Audit departments need to embrace digital and data technologies to increase its audit throughput, reach, relevance and accuracy
• The increasing adoption of technology requires Internal Audit, in collaboration with the other lines of defense, to respond with skills, techniques and systems to provide continued and relevant assurance

Thinking of deploying RPA as part of your IA strategy, but:

• Uncertain of how to select a preferred RPA implementation vendor
• Unable to deliver a business case to prioritize certain functions and processes for automation
• Current processes are not yet defined, nor wastage eliminated
• Slippage in RPA execution timelines due to poor project management
• Managing staff uncertainty and drop in morale

THE ADEPT ADVISORY SOLUTION

Adept Advisory is an independent business partner, rendering value-add services to our Internal Audit (IA) clients on their digital transformation journey through the enablement and support of Robotic Process Automation (RPA) execution.

Our digital transformation approach is both evolutionary and disruptive – balancing two forces of change

• Digitally enhancing and refining existing processes
• Re-inventing what you do, leveraging disruptive innovation

RPA software agnostic, we can support you in your journey to the future state through:

• Pre- and post-RPA implementation service requirements
• Supplementing the execution of RPA with upfront software selection, cost-benefit analysis, process improvement, project and change management

OUR DELIVERABLES

Our deliverables focus on the convergence of omni- solutions across the entire RPA value chain by:

• Leveraging digital opportunities
• Exploring how disruptive innovation will change the role, construct and ways of working for Internal Audit and how to create the future now
• Building and prioritising the book of work to transform
• Pre-RPA implementation – RPA software selection, vendor management, business benefits assessment, process design and improvement
• During RPA implementation – Project management and business analysis
• Post-RPA implementation – People and change management and benefits realisation

SUSTAINABLE BENEFITS FOR YOUR ORGANIZATION

Adept Advisory has a methodology to assist Internal Audit (and other) functions in building a roadmap to trigger and guide the digital transformation process

• RPA for value-add not just for ‘cool’
• Selection of cost-effective RPA software implementation vendor with tight service level agreements
• Defined benefits realised from process automation
• Strict project and milestone management during RPA execution
• Staff acceptance to new ways of working and role changes