Internal audit

Providing independent, objective and rigorous financial and risk assurance of your business and financial position is fundamental to improving performance and good corporate governance. Like our approach to internal audit, our aim is straightforward – to help you serve your clients and stakeholders better.

Our approach

At Scott-Moncrieff, we offer a fresh approach to internal audit, combined with extensive experience of advising businesses. We are confident that our team cannot be beaten in terms of skills, expertise, enthusiasm and, most importantly, value for money.

To allow us to provide a strategic, targeted internal audit function that focuses on the key risks to the achievement of your business objectives, the internal audit plan will be directly linked to the corporate risk management arrangements by way of a risk and audit needs assessment.  But this is just the first stage. 

Our entire internal audit methodology relates to the risk management framework and risk registers, at every stage of the audit cycle.

Our process includes:

  • Collaborative strategic planning: identifying risks and their links to the strategic objectives.
  • Tailored assignment plans: detailing the scope and objectives alongside the relevant risks.
  • Clear reporting: concise outcome drawing conclusions and action plan for each issue.
  • Proactive follow-up: Quarterly audit surgeries to monitor progress against the action plans.
  • Forward-looking annual report: audit opinion of overall internal controls to inform the board’s statement and comment on risk registers.

Clear opinions

Our risk-based approach aims to position the work of internal audit in the context of the business’s own risk management framework and, in so doing, to provide a cornerstone of governance.  We will work with your Board and Audit Committee to develop an understanding of your business’s financial operational and governance risks and therefore deliver a practical tailored report.

In delivering our output we believe that our clients pay for and deserve a straight answer, free from lengthy disclaimers and caveats, and we pride ourselves on providing clear opinions that deliver maximum assurance.