CEOs continue to be under strong pressure to demonstrate the value they are getting from their internal audit department. They need to ensure that the function is operating efficiently - keeping costs to a minimum while adding real value with the quality of its recommendations.
PwC Russia provides flexible cosourcing and coaching solutions for our Russian clients. Our solutions are based on:
Based on your needs we provide you with subject matter experts and technical specialists to effectively assess and audit complex operational risks, including:
We team our Russian and international subject matter experts and technical specialists with your in-house audit resources to deliver value added engagements.
We have access to a network of more than 2,000 internal audit specialists world wide with practical experience in your specific industry.
Our international and Russian specialists coach and transfer technical knowledge to your auditors during the delivery of each engagement to build their skills, including the delivery of quality reports.
We can draw upon different pools of experts from PwC Russia. We have:
PwC Russia provides effective cosourcing solutions in Russia for the corporate audit function’s of overseas companies. Our solutions are based on:
We team our Russian based specialists with your corporate audit resources to effectively deliver your audit activities in Russia. Our staff understand both the Russian business environment and your corporate culture.
We bring you the resources and skills that you need to supplement your in-house capabilities to deliver a quality but cost effective audit in Russia, including:
We tailor our cosourcing activities to fit your corporate audit plan, including:
The culture and practices of Russian CFOs and finance staff are often very different from what the management of international audit functions are used to. Our specialists help to ‘bridge this gap’, by effectively communicating to both parties in their respective business languages.
PwC Russia has a dedicated team of more than 120 risk assurance specialists, of which 30 are mapped to internal audit. In addition we have 35 forensic specialists. These staff regularly provide cosourcing services to more than 30 overseas companies located in the United States, Canada, Germany, France, United Kingdom, China, India, Netherlands, Spain, Italy, Sweden and Finland.
IT audit should be an integral part of the internal audit work plan. For example, an audit of relevant systems and automated controls should form a central part of most audits of business processes.
PwC helps its clients by training, coaching, and performing joint projects with IT internal audit teams and also by providing highly skilled IT audit resources as required on a temporary or recurring basis.
PwC has developed a comprehensive internal audit internal audit methodology based on COBIT to ensure that our clients can leverage the strategic value of IT internal audit. We help our clients to:
Internal auditors, controllers, economic security officers and other professionals, who need to conduct audits and reviews of large construction projects effectively and efficiently.
Discuss major risks and controls in relation to construction project life cycle and develop robust approach to audit construction projects.
9 academic hours (1 day).
Outline of the training course:
We tailor the scope of services to meet your needs, but typically provide three types of EQAR:
A detailed review in accordance with international standards to assess the function’s conformity with the individual IIA Standards. This is required to be performed at least once every five years by IIA Standard 1312.
In addition to assessing conformity with IIA Standards, we interview and survey the stakeholders of the internal audit function, to determine their expectations and recommendations for its future development.
In addition to the above we compare your internal audit activities against those of high performing functions in Russia and global companies in similar industries. To do this we use our in-house tool Profiler™, which contains anonymised data on internal audit best practice from Russia and all over the world, covering strategy, structure, people, process and technology.
At your request we can deliver our EQAR in two stages consisting of:
Companies obtaining their first EQAR typically prefer this approach, to give them time to remediate their initial weaknesses identified.
Internal auditors, who are willing to expand their roles related to financial auditing. Also other participants, who require an essential course on financial accounting concepts, needed to conduct financial auditing.
In addition to a basic accounting class, this training course will enable participants to approach financial auditing with sound understanding and new confidence.
18 academic hours (2 days)
We tailor the scope of services to meet your needs, but typically provide three types of CFR:
A detailed review from initial diagnostic to detailed recommendations with only limited interaction with your Internal Audit department. This is particularly suited to companies with staff resource or skill shortages where a review is urgently required.
In conjunction with your internal audit function, a joint project resulting in a detailed review as above. This creates opportunities for training your staff and increasing the quality of dialogue between the claims process owners, management and head of internal audit focused on continuous improvement.
We provide specific skills such as data analytics and forensic services as a short term addition to the skills of your existing team. This is particularly valuable for companies that may not be able to justify employing such experts on a permanent basis.
At your request we can deliver our CFR in two stages consisting of:
Companies performing their first detailed CFR typically prefer this approach, to ensure that detailed testing is focused on the lines of business where CFR is mostly likely to add value.
Internal auditors, who need to conduct operational audits effectively and efficiently and be capable to demonstrate added value. Also other participants (risk managers, controllers, compliance managers), who require a basic course on how to evaluate if systems are designed properly, and if operational controls and risks are managed as expected.
This course will enable participants to assess if business units, divisions and department achieve their objectives in effective, efficient and economical manner.
18 academic hours (2 days)