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Internal Audit & Compliance

Evolving risks occur at an unprecedented pace, forcing internal audit functions to assess the potential impact on the organization’s overall risk profile. FORVIS has the experience needed to guide clients in preparedness and risk mitigation efforts.

Transformative internal audit and compliance for effective risk management.

As the global landscape changes, organizations are expecting more from their internal audit functions. FORVIS has experience advising organizations on their risk management, governance, and compliance needs. By leveraging the latest methodologies and technologies, FORVIS helps clients evolve from reactive to proactive.

Internal Audit Core Services

FORVIS’ internal audit professionals support clients by bringing a transformative approach to identifying, assessing, and monitoring risks and controls. The FORVIS approach helps deliver value to organizations by driving efficiencies while continuously assessing emerging and evolving risks, through the following services:

  • Co-Source, Outsource Internal Audit 
  • Internal Audit Execution
  • IT Internal Audit
  • Non-Regulated Company Compliance Audit
  • Operational, Strategic, and Integrated Audit
  • Process Assessment and Improvement
  • Information Security Services

Sarbanes-Oxley (SOX) & Internal Controls over Financial Reporting

FORVIS’ internal control professionals have experience implementing, refreshing, supporting, and enhancing internal control programs. Clients come to FORVIS for guidance on current state evaluation, gap identification, remediation, and control effectiveness. Regardless of your program’s maturity, FORVIS can assist with the following: 

  • Control Optimization, Efficiency, and Effectiveness 
  • Environmental, Social, and Governance
  • Internal Controls Over Financial Reporting (SOX/J-SOX/UK SOX/MAR)
  • IPO / de-SPACing Readiness
  • Internal Control Framework Mapping and Alignment 
  • ITGC and Application Controls

Governance, Risk, and Compliance

FORVIS has extensive experience working with CAEs, audit committees, and senior management to establish, assess, and transform internal audit functions by providing the following services: 

  • Audit Committee Guidance and Insight 
  • Internal Audit Function Implementation
  • Internal Audit Target Operating Model
  • Internal Audit Methodology
  • Enterprise Risk Management / Enterprise Risk Assessments
  • Management Reporting & Dashboarding
  • Agile Auditing Strategy
  • Quality Assurance Review

Internal Audit for Regulated Industries

FORVIS’ regulatory and compliance advisors assist regulated organizations, such as financial institutions, healthcare companies, insurance, and government contractors with their requirements as follows: 

  • Co-Source Subject Matter Support
  • Model Audit Rule
  • Model Risk Management
  • Regulatory Audits and Assessments
  • Risk Management Assessments
  • Third Line Issue Validation
  • Third Party Risk Management (TPRM)
  • Internal Audit Compliance Outsourcing
  • Issues Management and Remediation Support

Contract Assurance

FORVIS’ professionals assist organizations with their contract assurance and compliance needs. Helping clients navigate the entire contract lifecycle from defining requirements to measuring performance, with a focus on managing risk, FORVIS offers the following services:

  • Advertising Agency Audits
  • Construction Audits
  • Contract Management Life Cycle
  • Franchise Audits
  • Joint Venture Audits
  • Licensing Audits
  • Royalty Audits
  • Third Party Risk Assessments
  • Vendor Audits

Audit Analytics and Automation

Automation in internal audit often does not achieve the expected return on investment (ROI). FORVIS’ advisors leverage the latest tools, technologies, and methodologies to help improve internal audit’s ROI. Whether leveraging analytics or implementing robotics, FORVIS can assist clients with realizing their goals by providing the following services: 

  • Continuous Auditing 
  • Data Analytics
  • Automation Process Assessment
  • GRC Platforms 
  • Robotics / Controls Automation

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