Support for Audit Committees
Many types of organisation are required to have an audit committee. For example, by law certain regulated sectors such as credit unions must have an internal audit function while other regulated entities and public interest bodies of a certain size are also required to have an internal audit function in place.
The Companies Act 2014 requires companies over a particular size to establish an audit committee whose responsibilities include monitoring the effectiveness of the company’s system of internal control, internal audit and risk management.
RBK’s specialised internal audit team provides supports for audit committees in respect of their organisation’s control framework. Our services cover:
- Existing risks: are you managing your existing risks, your people, key customers and stakeholders?
- New risks: what might lie ahead and are you prepared?
- Financial reporting: is your financial reporting robust and transparent enough to address your business needs?
- Regulation: are you compliant and what are your future obligations?
- Systems and processes: how reliable are your systems? Do they support the business and assist to mitigate risk?