Internal Audit Services

In today's fast-changing world, organizations are demanding that the internal audit function create value through cost savings, enhanced revenues, and improvements in operating efficiencies and it helps in complying with company’s own standard operating procedures and support the management in identifying the key process and control risks and recommend the solution to mitigate the risks to its minimum level.

Are corporate concerned for:

  • internal audit function is not keeping pace with the rapidly changing business environment;
  • organization seems unable to find the time and resources to create and communicate important goals and policies, and to monitor progress toward achieving those goals;
  • organization is unable to initially hire or retain experienced internal audit personnel;

If answer to these questions is “yes”, then Lochan & Co can help.

An internal audit function should contribute to the success of the organization in three important ways:

  • Risk Management
  • Control Systems
  • Governance Processes

Lochan & Co works with the organization to create and implement an objectives-focused plan that enables to assess risk, evaluate controls, and monitor compliance with policies and regulations.

Value Added Solutions

We help organizations of all sizes and have a vast pool of knowledge and industry expertise. We have gained that knowledge and expertise by working closely with our clients to help them succeed. We use the latest technology in computer assisted audit techniques to efficiently analyze data in your information system, and we provide our professionals with ongoing training to keep them abreast of changes in the business environment.

Benefits:

Lochan & Co helps the clients:

  • Find an internal audit approach appropriate for client’s specific needs including full outsourcing, co-sourcing with internal audit department.
  • With individual resource needs such as technology risk consulting or other individual reviews requiring specific technical experience that are difficult to obtain or costly to employ full time.
  • Remain current on internal audit advancements through contemporary and innovative approaches that reflect the continuing evolution of the internal audit profession.
  • Meet timelines through flexible staffing and scheduling to meet your needs without adding additional head count.
  • In coordinating with external auditors to proactively close any internal control or process issues they have encountered.
  • Gain access to trained advisors, keeping management updated on emerging trends
  • In maintaining third-party service, enabling management to focus on business operations
  • To raise the awareness of management’s support for a sound internal control structure