Benefits of outsourcing Internal Audit
As Credit Unions have continued to grow and develop their Governance, Risk and Compliance systems, the risk emphasis has started to change from failing to meet compliance requirements to failing to meet strategic targets. Through our experience in the sector WDA have developed a value added approach to role of Internal Audit.
We are committed to re-positioning of the role of internal audit from that of a ‘tick the box’ compliance function to that of a constructive and valued function within the organisation.
We produce a comprehensive tender document for the Boards consideration, which sets-out a full schedule of tasks that must be completed within the engagement. This will ensure there is absolutely no ambiguity to the scope of the engagement.
All professional fees are agreed between WDA and the Credit Union prior to the commencement of the engagement at a mutually agreeable level, so there is no hidden surprises or overruns.