There are many benefits to your company from using Alerding Internal Audit Services for your internal audit needs.

Outsourced Internal Audit Creates Stability and Consistency without Sacrificing Proficiency

You are hiring a FIRM to provide your internal audit services rather than an individual or an employee or group of employees. Accordingly, the company is protected from unwanted turnover of personnel. This firm concept has been very well received by our profession and by public and private companies and NFP entities alike. The stability and consistency that this concept affords provides the company with reduced risk and improved proficiency in this critical area.

Affordability

Because Alerding Internal Audit Services are provided on an as-needed basis, the company can control the overall scope and cost of the services. In the environment in which businesses operate, this flexibility is very important to the financial well being of the company. You decide how much you want to spend, how much you want your internal audit staff to accomplish and when you want the services delivered, and we will meet your goals.

Reduces Overall Corporate Risk

Risk mitigation is a critical success element for businesses of all sizes and in all industries. An internal audit function assists both the Management Group and the Board of Directors (through its audit committee) in both indentifying and mitigating risks, especially those relating to financial reporting. Our process and methodology assists the company in highlighting the critical risks and addresses them in a proactive and effective manner.

Transfer of Knowledge to the company’s Staff

Alerding Internal Audit Services are delivered by professionals who practice in public accounting on a full-time basis and, therefore, are always current as to all new pronouncements by standard-setting bodies that affect the company, including the FASB, SEC, PCOAB, AudSec and others, including emerging accounting and reporting issues (e.g. International Accounting Standards). As part of our engagement, it is our mission to transfer our knowledge to the company’s accounting leadership and staff so that they have the tools to remain current and apply new and emerging concepts to the business.

Accelerates the Timing and Reduces the Costs of the Year-End Audit Process

Independence requirements for external audit firms have been strengthened significantly in the post-Enron environment and external audit requirements have been significantly expanded. Having an internal audit staff is usually most welcomed by the external auditors, who are encouraged to use as much of the internal auditor’s work as possible in reducing their audit risks and scope. We assist the company in preparing the year-end financial statement for presentation to the external auditors, which often accelerates the year-end audit process and improves the overall quality of the company’s financial reporting. We work with your external auditors throughout the audit process and, consequently, external audit fees are usually reduced as a result of this reliance.

Increases the Value of the Company

Whether the company is privately held or publicly traded, having a professional internal audit staff adds value to the business. This is especially true if the company is seeking outside financing or investment, is attempting to sell the business or is otherwise raising capital on the open market. Lenders, investors and potential suitors consider an effective and professional internal audit staff to be a threshold control requirement and a significant element of value.

Internal Audit adds Expertise, Organizational Tools and Comfort to the Audit Committee

Both for-profit and not-for-profit entities are strongly encouraged (and in some cases required) to have an active, engaged and professional audit committee by investors, donors and even governmental authorities. Alerding Internal Audit Services provides the Audit Committee with a toolbox of organizational, operational, management and monitoring tools to help the Audit Committee get started and continue to fulfill its role as the overseers of corporate risk. We fill the role as the right hand of the Audit Committee by providing an affordable and effective solution to providing the company with the appropriate level of comfort for the Board of Directors, Shareholders and constituents.

Contact us now.

Back to Internal Audit Services