The internal audit group within the Bonadio practice has served multiple publicly owned businesses and dozens of the largest privately owned businesses throughout the US. Our diverse capabilities and expertise have enabled us to provide internal audit services to organizations of all sizes within all industries.

Our internal audit engagements range in scope from designing your risk assessment to the completion of special projects to complete outsourcing of your internal audit function. We bring extensive expertise to your organization in the areas of risk management and process improvement while providing:

  • Unequaled IT risk resources and capabilities
  • Deliverables completed on-time , within budget
  • Global reach, local understanding
  • An internal audit team grounded in client satisfaction

Risk Assessments

Our industry standard and the customized, proprietary tools and risk assessment methodology we provide cover point in time and year over year risk and opportunity analysis. We look at risk areas associated with data use, privileged access, internal/external personnel and vendors, internal and “Cloud ” applications, local businesses function and across an enterprise. Our deliverables include a multitude of information detailing the risk profile; which serves as the foundation for developing a risk-based audit plan, identifies the necessary management initiatives and generates specific recommendations for performance improvement. Our approach will help you determine whether your organization is managing risks appropriately to reach your business objectives.

We have risk assessment products for the entire enterprise including fraud, Sarbanes-Oxley and a variety of specific financial, operational, and IT areas. We are often engaged to provide these services by companies that are establishing an internal audit function, or are interested in obtaining more value from their audits by adopting a risk-based audit plan.

Risk-Based Audits and Special Projects

Using our risk-based approach for the area(s) under review, we identify any potential risk to the achievement of your financial, operational, and compliance objectives, evaluate the impact on your processes, and determine the likelihood of an occurrence. We also review your policies, procedures, and practices, and identify the internal controls you have implemented to mitigate your risks. We focus on the areas of greatest risk and opportunity, which results in a more cost-effective audit that provides more valuable feedback.

The depth of our talent and our client base has enabled us to develop a host of specialized skills in a number of unique areas that can add value to your organization. Our team has the depth of experience of national firms with the additional benefit of a broad and deep local presence. We have particular expertise in:

  • Construction audits
  • Computer assisted auditing
  • Data analysis assisted auditing
  • Lease audits
  • Process assessments
  • Reconciliation projects
  • Contract audits
  • Fraud risk assessments
  • IT audits
  • System implementations
  • Vendor audits
  • Talent management initiatives

Bonadio Support Relationship Alternatives

We work with our clients in a variety of ways.

Nationally and Internationally

Often, our New York-based staff travels on assignments for clients across the United States and overseas. However, as an independent firm associated with Moore Stephens, we can also provide you with access to the best and brightest teams of business advisors in North America and all over the world. Moore Stephens is a premier accounting association, ranked 13th in the world, with 650 offices located across the United States and in almost 100 countries worldwide. Here are the types of relationships we develop with our clients:

Co-Sourcing

Internal audit departments are continually rebalancing the work to focus on operational and strategic risks. We provide audit professionals and expertise for assignments that reasonably can't be covered with your current staff. Our team of specialists and certified auditors apply their skills in all markets. We augment and apply focused knowledge transfers which take place so you can be assured that there can be retention internally on the audit topics for reference points and for the future uses of information -- whether it's revising a procedure, revising a policy, revising a process, or whatever else that may result from the audit process or outcome.

We make certain that:

  • The professionals we use are capable of assessing audit plans and augment your staff capabilities.
  • We have a full QC process in all audits.
  • Our experts know your business and we match skill sets of the team to the audits called for in your plan.
  • We work with you, to build relationships, trust, and consistency.
  • We consistently upgrade our training, experience, and knowledge base and apply processes to assure a “cultural” match to you company
  • Our process includes a dual reporting relationship to a senior firm partner and to you.
  • All audits are performed in conformance with needed standards for your industry.
  • Our deliverables are professional, compete and meet your and any regulatory requirements for performance.
  • All workpapers are secure and available 24x7 throughout the audit period and retained based on industry needs.
  • We measure and assess our professionals’ performance regularly during the audit.
  • The audit committee monitors the effectiveness of the co-sourced arrangement.

Internal Audit Outsourcing

Sometimes organizations are looking for broader and deeper internal audit expertise than they have internally or are looking for savings. In these cases, we provide the complete internal audit outsourcing function where clients can depend on our best practice approach while realizing cost-effective internal audit service due to savings from:

  • Outsourcing the expense of specialize talent rather than maintaining an in-house salary package.
  • Effectively managing all contingency costs associated with an internal audit schedule.
  • Time and effort required by top management to internally manage the internal audit effort.

Staff Augmentation

We also provide talented professionals on an as-needed basis to some of our clients. Our experienced staff eliminates training time, minimizes work disruption, and fosters continuity on assignments.

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