Internal audit services comprise of an independent and comprehensive review of an organization’s internal controls, operational procedures, and accounting policies. The inferences derived from the internal audit process are then used to streamline the operations of the enterprise and enhance their overall efficiency. This market can broadly be segmented into financial audit, compliance audit, operational audit, IT audit, and special audit. One of the key role of internal audit in a company is to provide an independent viewpoint on the extent to which an organization is poised for success and advice on areas which have scope for improvement. Internal audit is vital for ensuring information security and regulatory compliance, it’s also a valuable way to evaluate company performance and manage risk.
SpendEdge’s procurement intelligence report on the global internal audit services provides in-depth insights into the growth patterns, procurement best practices, and major cost drivers in this market:
Top internal audit service providers in the world
Deloitte Touche Tohmatsu Limited popularly referred to as Deloitte is a multinational professional network with over 150 years of expertise. It is one of the “Big Four” accounting organizations and is currently headquartered in New York, United States. The company’s experienced audit professionals take a risk-based approach to internal audit with a view to help clients improve performance and overall operating efficiency. They also aim to build internal audit into a strategic and productive tool in today’s corporate governance environment. Deloitte’s internal audit services include quality assurance reviews of existing Internal audit functions, reviews of standard operating procedure or manuals of various commercial and financial processes.
PricewaterhouseCoopers is also commonly known as PwC is a multinational professional services network that is headquartered in London, United Kingdom. PwC’s auditing solutions claim to not improves an organizations’ internal financial, business and IT controls, but also turns their audit function into a strategic asset. PwC uses several advanced tools to guide companies in a holistic approach to governance, risk, and compliance in coordination with the second and third lines of defense.
Ernst and Young is a multinational corporation that is headquartered in London. The company operates in about 700 locations worldwide spanning 150 countries. They are focused on four service lines including assurance, advisory, tax, and transaction advisory services. EY believes in technology-enabled internal audit transformation that gives an equal focus on people, process, and purpose in order to balance risk, cost, and value.
KPMG is a financial audit, tax, and advisory company headquartered in the Netherlands. It one of the ‘Big Four’ auditors, along with Deloitte, Ernst & Young, and PricewaterhouseCoopers. The company operates across 154 countries. The auditing experts at KPMG apply powerful depreciation and amortization routines to create better audit evidence and gain deeper insights. The company recently announced its plan to introduce the world’s first global cloud-based Big Four audit platform on Microsoft Azure.
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