HIT THE GROUND RUNNING IN GERMANY – OUTSOURCING INTERNAL AUDIT to Germany
A powerful internal audit must actually afford all medium-sized companies from a certain size. For capital market-oriented companies, the German Accounting Law requires management boards and supervisory boards to set up such an independent internal audit. In addition, the critical view of internal auditing helps to uncover weaknesses and optimize processes. We offer outsourcing internal audit solutions for internal auditing. For the establishment of a functioning internal audit, we assume the following tasks:
One of the key requirements for internal audit staff is their independence. They examine on behalf of the management, who then reports the results to the Supervisory Board. This means that internal auditing must therefore be above all company-internal political and strategic considerations.
The establishment of an independent audit also means that these employees must not be entrusted with any tasks that are not related to auditing. Such an exemption of employees often fails in practice because of the necessary full utilization of the employees and / or the available resources.
In many cases, the company chooses a mix of its own internal audit and external specialists. We also call this kind of cooperation with our clients co-sourcing. Special audit procedures can then be outsourced cost-effectively to external specialists.
The internal audit can then concentrate fully on the basic tasks. Specialized knowledge, which is not needed every year, can then be purposefully “bought in” from the outside. If you then set the costs for co-sourcing models or even for special orders in relation to the structure of your own audit capacity, it is worth outsourcing the internal audit in most cases.
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If you are under 16 and wish to give consent to optional services, you must ask your legal guardians for permission. We use cookies and other technologies on our website. Some of them are essential, while others help us to improve this website and your experience. Personal data may be processed (e.g. IP addresses), for example for personalized ads and content or ad and content measurement. You can find more information about the use of your data in our privacy policy. Some services process personal data in the USA. With your consent to use these services, you also consent to the processing of your data in the USA pursuant to Art. 49 (1) lit. a GDPR. The ECJ classifies the USA as a country with insufficient data protection according to EU standards. For example, there is a risk that U.S. authorities will process personal data in surveillance programs without any existing possibility of legal action for Europeans. Here you will find an overview of all cookies used. You can give your consent to whole categories or display further information and select certain cookies.