Risk identification and risk management require more than gazing into a crystal ball — often in the form of an internal audit process.
Risk identification. Risk management. These are key terms in today’s business environment, and the internal audit function is a key to successfully assessing and managing risk. Internal audit scope varies widely for each business and industry and is customized to fit your needs but often includes elements of operations, financial reporting, compliance, and internal controls. CRI follows a risk-based internal audit approach designed to identify and test the significant internal controls within your business processes. Our internal audit team then evaluates the design to ensure the internal controls are structured in the most efficient and effective manner possible.
The Sarbanes-Oxley (SOX) Act of 2002 raised the accountability level of internal auditors at all companies. Consequently, many organizations have chosen to outsource internal audit functions. This choice not only allows internal auditors, who have no routine management responsibilities, to focus on process improvement but also to provide the highest level of assurance and objective assessments to boards and management.
Our cross-functional team of business advisors includes IT consultants and forensic accountants that are trained to collaboratively strengthen your internal control structure—with an eye on protecting and enhancing your bottom line. And our bottom line is to streamline your business’ efficiencies while mitigating risk and consulting with you, your audit committee, and regulatory agencies.