Supporting you to address the risks of your business

In today's increasingly competitive and regulated market place, organisations - both public and private - must demonstrate that they have adequate controls and safeguards in place. The availability of qualified internal audit resources is a common challenge for many organisations.

Recent events have increased the awareness of the importance of understanding risk and putting in place a strong control framework focussed on addressing them. In addition, regulators are demanding improved controls to protect customers.

Unlike external auditors, internal audit looks beyond financial risks and statements.  Its focus is on the wider issues that help businesses mitigate the risks to which they are exposed as they seek to achieve their business objectives.  This means the strategic value of internal audit is greater than it has ever been.

Thailand Leader Noel Ashpole

Partner

noel.ashpole@th.gt.com

What action should be taken?

For Internal Audit functions to be effective they require access to a pool of skilled and scalable resources, ready and able to assess and provide assurance around the full array of risks facing organisations today. Organisations need to:

  • Determine whether the current in house capability is suitable for the changing nature of your company risk profile and future audit plan
  • Leverage best practice and insight from across markets and industry sectors
  • Challenge if audit plan is aligned with overall risk framework of the organisation

Building and supporting a specialist in-house team capable of delivering the level of assurance and insight required may not be feasible or cost effective for many organisations, so our clients look to us to provide such services.

Supporting our clients

At Grant Thornton we combine our industry knowledge with our risk-based internal audit methodology to deliver tailored internal audit offerings that are appropriate for your size, industry sector, risk appetite and regulatory requirements.  This enables us to provide you with a fully outsourced or co-sourced internal audit service that is right for your needs.

Our certified and experienced team of internal auditors, work as a collaborative partner to deliver our services to you. Our services include:

Outsourced and co-sourced internal audit

Organisations need to ensure that they have appropriate internal audit resources with the right skills in order to address the compliance, internal controls and risk management needs throughout the audit lifecycle.  Our internal audit solutions can help organizations to:

  • Develop their Internal Audit Charter, strategy and risk-based audit plan
  • Deliver and report internal audit reviews
  • Develop competency of team by training and on the job coaching through co-source service
  • Provide experience internal auditors who can fit the shortage of qualified staff
  • In-country audit support around the world

IPO Internal Controls Assessment

Organisations looking to list on the Stock Exchange of Thailand are required to ensure appropriate internal controls and corporate governance framework comply with the SEC's requirements. With our extensive experience in providing internal audit services to listed companies, we can assist your organization to:

  • Review the organization’s IPO readiness by benchmarking against the SEC’s requirements which relate the 5 inter-related components of internal controls which includes:

                 - control environment

                 - risk assessment

                 - control activities

                 - information and communication

                 - monitoring activities

  • Post control implementation review

IT internal audit

Our IT audit solutions are designed for clients seeking to address a variety of security requirements. We can help organisations to assess their IT general control and application control audit.

 

Quality Assurance Review (QAR)

Our service can give independent assurance by undertaking an quality assurance review of the effectiveness of your internal audit function.

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