Internal Audit is a critical governance function to provide assurance to board on the effectiveness of organisational risk management, internal controls, and governance. Internal Audit often goes beyond the boarders of statutory audits thus providing a broader assurance. Internal Audit will help safeguard organisational assets, minimize risk of fraud or loss of assets, also help strengthen your risk management systems and internal controls.
Many organisations will not afford fully fledged Internal Audit department because of cost, inability to mitigate against talent risks etc. Some may want to ensure that they concentrate on what they know best, their core business, thanthe trouble of managing non-core functions, therefore wish to outsource their internal audit function. Outsourcing internal audit function also ensures continuity of talent as the firms like HLB Lesotho will carry all responsibilities of an effective internal audit, thus no staff costs, staff risks, discontinuity of service etc, all at the fraction of cost of having inhouse department. Outsourced services provider is also more independent than an inhouse provider.
Even if you have your inhouse internal audit department, we provide support in the form of co-audits (joint) with internal audit department where volumes of complexity are issues. We also offer quality assurance services to the inhouse Internal Audit department, and or advisory/coaching services.