The growing demand for internal audit services to fulfill broader and more strategic roles in organizations indicates the high importance that this function attaches to managers and shareholders today. The key functions of internal audit today provide the organization with the development of innovations and the study of new technologies, the desire to identify and reduce emerging risks, to develop creative solutions for complex business problems and to encourage best practices to improve business performance.
Metropole Rise Consulting has expertise in internal audit solutions. Given the fact that we are not an accounting firm, the work that we perform for our clients never raises the question of the independence of evaluations and decisions, so we can afford to use all available resources to work on an internal audit projects, involving the best specialists in various application and technological fields for specific tasks.
Our services include:
- High Costs Audit
- Internal audit (co-sourcing and outsourcing)
- Transformation of internal audit
- IT Audit
- Creation and development of an audit service
High Costs Audit
As a result of our audits, organizations manage to get great benefits from the business processes and technologies that they use.
Thanks to the experience of the Metropole Rise Consulting audit team, audits are conducted in a short period of time, which allows you to quickly identify opportunities to increase productivity and reduce costs. This process requires special knowledge in the field of business process management, which, very often, is not available for your internal staff. As a result of the audit work, managers and teams can identify new opportunities that will add significant value to their organizations.
Internal Audit - Co-Sourcing
It is difficult to imagine any department of internal audit that has all the technical and expert resources that it requires permanently. In fact, having full-time employees to meet all the needs of an internal audit is not a practical approach. A wide range of industry, technology and operational risks allows us to serve as a highly qualified asset for your business. If you need to address the lack of traditional internal audit staff or require specialized internal audit professionals, Metropole Rise Consulting can help.
Our internal audit specialists provide organizations with all the technical and expert resources they require upon request, without the need to hire full-time employees.
Independent Internal Audit - Outsourcing
Internal auditing should be an independent and objective function that constantly helps you evaluate how safe, reliable and relevant you are, how effective and efficient you are, and how much you think about future prospects. We demonstrate this through the consistent application of our internal audit methodology and our focus on oversight, understanding and foresight.
Many internal audit functions focus only on “oversight” — that is, on assessing the ability to comply with Company policies or internal directives. We believe that aspects of our work related to added value and recommendations focus on “understanding” - i.e. identifying the ability to work faster, smarter or cheaper. “Foresight” - an assessment of the ability to act based not only on the current period of time, but also with the desire to capture future consequences and promising opportunities.
We can meet all of your internal audit needs under a full-service outsourcing agreement that is accountable to the audit committee, the appropriate corporate officer and / or shareholders to ensure an appropriate degree of objectivity and independence.
Internal Audit Transformation
Our internal audit transformation professionals help organizations align internal audit practices with the expectations and goals of key stakeholders, including senior management and the board of directors.
The internal audit functions of most organizations are undergoing significant changes due to the the requirements of shareholders, stock exchange regulations, and the rules of the Securities and Exchange Commission. Our experts help organizations transform their internal audit services by adopting a systematic, disciplined approach, while also helping to improve the overall effectiveness of risk management.
Information Technology (IT) Audit
In today's information business environment, organizations must constantly evaluate their ability to protect information assets. This includes not only the application of security protocols and related development processes, but also the constant availability of information to authorized persons. The purpose of IT Auditing is to determine how effectively the organization supports these protocols and indicate how to improve them. Effective IT Audit services help organizations not only improve internal control and security, but also help achieve their IT goals and objectives.
Metropole Rise Consulting internal IT audit services help organizations understand their key technology risks and how well they mitigate and control these risks. Our experts provide an understanding of the threats inherent in today's highly sophisticated technologies.
Creation and development of an audit service
In today's business environment, organizations face many complex decisions and challenges, including new regulatory requirements and, of course, the current economic downturn. These obstacles can be more complex for organizations that have not yet created an internal audit function.
Our internal audit specialists will help you plan, formulate and develop internal audit functions from the very beginning. We also help companies restore existing audit functions that have become ineffective. In any case, Metropole Rise Consulting consultants offer practical, effective, and efficient approaches to help you create an internal audit function that meets the specific needs of your organization.
Audit Advisory Committee
Metropole Rise Consulting's advisory specialists help organization committees improve their internal audit engagement. Commitment on the part of the members of the audit committee, independence in thinking, professional approach and in-depth knowledge of the company are crucial for the fiduciary responsibility of the audit committee.
Audit committees often have to consult with independent consultants on issues related to internal audit, business risk management and corporate governance. Our team has the experience and knowledge to advise audit committees on a number of topics, including:
- The structure and effectiveness of activities related to internal audit
- Risk assessment evaluation
- Resources Overview
- Continuous professional development
Fraud Risk Management
Fraud and financial misconduct are an unpleasant reality in today's global market. For example, an average organization in the United States loses about 5 percent of its annual revenue from fraud. As a result, shareholders are increasingly interested in managing fraud risks to protect profits, and regulators are increasingly demanding more active and integrated fraud risk management.
Understanding organizational vulnerabilities, creating an appropriate framework for identifying them and responding in a timely manner is crucial in today's global market, as regulators require more active management and investigation of a wide range of risks, including financial crime, fraud and corruption.
Why companies should act now
Management often denies the possibility that a company is losing significant revenue due to fraud. However, it is absurd to observe the concentration and efforts aimed at ensuring annual growth and increasing the capitalization of the company, in the presence of such losses. On the other hand, regulators and prosecutors hold corporate executives and directors accountable not only for acts of fraud or bribery that they themselves could have committed, but also for actions that could be under their control, but they have not taken clear steps to prevent them. In fact, the risk of fraud exists in every organization - only to a different degree.
Prevention is better than cure
Fraud prevention is the basis of fraud risk management and traditionally consists of simple control measures designed to establish ethical and moral tone and limit the possibility of fraud. Such measures are a good start, but they should be part of a comprehensive and ongoing fraud risk management strategy that includes proper third-party verification, fraud audits, brainstorming and data analysis.
How can we help
Metropole Rise Consulting fraud risk advisers help organizations build a robust infrastructure to assess, reduce and monitor fraud and misconduct risks. We help organizations create sustainable fraud risk assessment processes and develop fraud prevention programs and tools to fulfill fiduciary and regulatory responsibilities. In addition, Metropole Rise Consulting provides support to organizations in their efforts to prevent and identify fraud risks at all levels, from fraud risk management and employee training, to audits and fraud monitoring programs that help organizations respond confidently to changing global requirements. Our expertise is based on our experience in corporate ethics and regulatory compliance, investigations, accounting, risk management, government control, technology and valuation analysis.
The unique combination of our anti-corruption team, fraud risk management and investigation expertise can quickly identify process flaws and correct critical areas of activity. We adapt the methods and approaches to assessing the risk of fraud in accordance with the industry and the unique properties of the organization.
Get in touch with us now and find out how Metropole Rise Consulting can support and guide you on the path of effective development.