Internal auditing
Internal audit is an activity that provides independent and objective confirmation and advice that is intended to add value and improve operations. Internal auditing assesses and improves the effectiveness of risk management, internal control and governance through systematic and disciplined work practices, thus supporting the client in achieving their goals.
Internal audit plays a key role in helping your company achieve its set goals within the acceptable risk level defined by the board and its management.
PwC has met these requirements by offering its clients services in the field of risk-based internal audit. The service is intended, among other things, to provide support to the board and management due to their supervisory role and to support the work of audit committees and external auditors.
One of our core goals at PwC is to provide effective internal auditing and to be constantly looking for opportunities to do better.
Implementation of PwC's services in the field of internal auditing:
- PwC undertakes internal auditing in whole or in part.
- PwC provides its clients' internal audit departments with long-term or short-term specialized staff.
- PwC provides advisory services in the field of internal auditing, such as the implementation of internal auditing, the installation of information systems that support it, the development of risk management and consulting in methodology and training.
Risk management
Today's business environment is becoming increasingly complex and involves new challenges and increased risk, but at the same time opens up an unprecedented untapped opportunity.
As Covid has shown, a risk that once seemed distant and unlikely has come true. Business executives need to be on their toes and "expect the unexpected", such as a completely changed business environment, new laws and regulations. This calls for a preventive approach and effective risk management to be prepared for change.
A control system that includes effective risk management and internal control is the key to being able to respond quickly to change and ensure a competitive advantage.
PwC has experts with interdisciplinary knowledge in the field of risk management. We identify key financial risk factors and set up internal processes that minimize risk and promote a timely response.
We help you perceive risk, assess it and manage it, so you can be at the forefront of change. By doing so, we safeguard the value of your business.
The main aspects of PwC's risk management services are:
An audit of the organization and effectiveness of risk management.
Assistance in documenting risk policy and risk rules. Assistance in the implementation of comprehensive risk management.
Assistance to risk committees, such as the preparation of rules of procedure and the implementation of the work of risk committees, as well as audits of the organization and functioning of the committee.
Assistance to company risk managers in organizing the internal work of risk management or assistance with individual audits.
PwC provides various types of advice related to corporate risk management and assistance in setting up information systems that support it, its development and advice on methodology and training.
Corporate governance
The purpose of good corporate governance means that a company's corporate governance is always in accordance with laws and rules and that it strengthens both companies' infrastructure and strengthens general market confidence. It is important that all stakeholders trust that the transparent rules of the game apply to the operation of companies.
In order for the board and management to adopt good governance, it is important that their role and responsibilities are clear and clear to them. Good governance is based on a process that ensures sound management decisions made with the best available information. In this way, management shows that they are concerned about quality work practices and create confidence in the company in the market.
In recent years, PwC has been involved in numerous audits and assistance with good governance, and our services are very diverse in this area.
The Board of Directors
PwC offers a wide range of services to the Board of Directors that assist them in operating their role in accordance with applicable laws and regulations.
The main role and responsibilities of the board are to be responsible for the company's operations. One of its roles is to ensure that the company establishes an active system of internal control and takes the lead in formulating policy, setting goals and defining the company's risk criteria, both in the short and long term. One of the measures of performance is that the board should regularly evaluate the performance of the company's management. Furthermore, it is important to evaluate the success of board work.
