NDB provides expert outsourced internal audit services for today's growing, fast-paced, and dynamically changing businesses. We know internal auditing inside and out, and can assist your organization with all of its outsourced internal audit needs.
Internal Auditing | A Growing Part of Regulatory Compliance
Outsourced internal audit firms and their respective services have grown tremendously in the past decade, especially since the passage of the 2002 Sarbanes-Oxley Act, which placed great emphasis on internal controls within an organization. Fast-forward and businesses are now facing even more stringent requirements for internal audits, due in large part to continued growth in legislation, coupled with an increased emphasis on risk assessment, which now includes components related to Information Technology. And let's not forget that “listed companies must maintain an internal audit function to provide management and the audit committee with ongoing assessments of the company’s risk management processes and system of internal control” - New York Stock Exchange listing standards (as approved by the Securities and Exchange Commission).
Additionally, auditing standards, such as the American Institute of Certified Public Accountants' (AICPA) SSAE 16 standard allows auditors to assess an organization's "internal audit function" for purposes of reliance and reporting on SSAE 16 Type 1 and Type 2 reports.
But, what really is internal auditing and how can outsourced internal audit firms and their respective services - such as NDB - help organizations?
First and foremost, internal auditing is an independent, objective process whereby a defined set of practices are used for improving an organization's effectiveness in many areas. Additionally, many times internal auditing is the process of measuring compliance with an organization's stated policies and procedures. Moreover, comprehensive documentation and formalized reporting are vital elements within internal auditing. Because the field of internal auditing is broad and varied, its practice can be undertaken on almost any entity, industry, or sector.
NDB | Outsourced Internal Audit Firm Experts | Auditors with Years of Experience
With that said, NDB has worked with numerous organizations in assisting with all of their internal audit needs. In fact, many of our highly-skilled auditors were "deep in the trenches" many years ago when Sarbanes-Oxley was passed - a significant milestone for many involved with internal auditing. Over the years, NDB has provided outsourced internal audit services for organizations in every conceivable industry and sector, and we've worked very closely with a number of notable organizations in developing highly specialized internal audit and compliance reporting mechanisms for purposes of regulatory compliance and best-of-breed practices.
NDB Outsourced Internal Auditor Services
When looking for outsourced internal audit firms, internal auditors and their respective services, consider NDB, as our expertise and "know-how" can provide businesses with the following services:
• Assistance in properly planning, scoping, and ultimately developing a comprehensive, yet scalable and efficient outsourced internal audit process.
• Highly skilled staff capable of conducting internal audit procedures in accordance with industry-leading benchmarks, frameworks, and standards, such as those put forth by the Institute of Internal Auditors, the American Institute of Certified Public Accountants (AICPA), and other notable organizations.
• Implementing risk-based internal auditing and other, as-needed measures for ensuring the overall outsourced internal audit function is competent, objective, and results-driven.
• Delivering formalized documentation from all relevant findings from the internal audit process itself, coupled with active communication with all appropriate parties as determined.
• Providing recommendations and suggestions for improving upon on organization's internal controls, along with all other supporting operational, technical, and financial processes and procedures.
• The ability to plan and perform highly specialized, outsourced internal audit services quickly and efficiently.