Internal Audit Outsourcing

Internal Audit Outsourcing

Outsourcing or co-sourcing internal audit functions are increasingly valuable solutions. Given the complexities of financial institutions, it is becoming increasingly difficult for banks and credit unions to maintain a team of internal auditors who are well-versed in all aspects of the operations. More and more institutions favor the value proposition of outsourcing or co-sourcing their internal audits.

An effective IA team needs to have a broad mix of skills, ranging from the junior resource needed for the more straightforward “box-checking” regulatory work right up to senior niche risk specialists. Using co-sourcing arrangements means having access to the sort of substantial headcount needed to do the job while not having to worry about issues such as career architecture that can make a fully in-house model difficult to build and maintain.

Under a co-sourcing arrangement, once a project is done, the clock stops – as does the cost. Co-sourcing works at all levels within IA and can be less expensive than bringing all the requisite skills in-house.

We offer a wide range of internal audit services. Outsourcing or co-sourcing your internal audit with TWHC will allow you to execute projects quickly and with the depth of knowledge and nonbiased approach that management looks for.

Our internal audit group is composed of professionals who have been on both sides of the table and understand that pointing out a problem is only the first step; what financial institutions need from their auditors is a pragmatic, innovative solution.