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Overview

The internal audit group of the Brown Smith Wallace Risk Services practice has served 50 percent of the publicly owned businesses and dozens of the largest privately owned businesses in the St. Louis metro area.  Our diverse capabilities and expertise have enabled us to provide internal audit services to organizations of all sizes within all industries.

Our internal audit engagements range in scope from a risk assessment to the completion of special projects to complete outsourcing of your internal audit function. We bring extensive expertise to your organization in the areas of risk management and process improvement while providing:

  • Unequaled IT risk resources and capabilities
  • Deliverables completed on-time , within budget
  • Global reach
  • An internal audit team grounded in client satisfaction

Risk Assessments

Our risk assessment methodology provides consistent risk and opportunity analysis. We look at risk from the enterprise perspective. Our deliverables include a risk profile; which serves as the foundation for developing a risk-based audit plan, identifies the necessary management initiatives and generates specific recommendations for performance improvement. Our approach will help you determine whether your organization is managing risks appropriately to reach your business objectives.

We have risk assessment products for the entire enterprise including fraud, Sarbanes-Oxley and a variety of specific financial, operational and IT areas. We are often engaged to provide these services by companies that are establishing an internal audit function, or are interested in obtaining more value from their audits by adopting a risk-based audit plan.

Risk-Based Audits and Special Projects

Using our risk-based approach for the area(s) under review, we identify any potential risk to the achievement of your financial, operational and compliance objectives, evaluate the impact on your processes, and determine the likelihood of an occurrence. We also review your policies, procedures, and practices, and identify the internal controls you have implemented to mitigate your risks. We focus on the areas of greatest risk and opportunity, which results in a more cost-effective audit that provides more valuable feedback.

The depth of our talent and our client base has enabled us to develop a host of specialized skills in a number of unique areas that can add value to your organization. Our team has the depth of experience of national firms with the additional benefit of a broad and deep local presence. We have particular expertise in:

  • Construction audits
  • Computer assisted auditing
  • Data analysis assisted auditing
  • Lease audits
  • Process assessments
  • Reconciliation projects
  • Contract audits
  • Fraud risk assessments
  • IT audits
  • System implementations
  •  Vendor audits
  • Talent management initiatives

Relationship Alternatives

We work with our clients in a variety of ways.

Nationally and Internationally
Often, our St. Louis-based staff travels on assignments for clients across the United States and overseas. However, as an independent firm associated with Moore Stephens, we can also provide you with access to the best and brightest teams of business advisors in North America and all over the world. Moore Stephens is a premier accounting association, ranked 13th in the world, with 650 offices located across the United States and in almost 100 countries worldwide.  Here are the types of relationships we develop with our clients:

Co-Sourcing
For organizations that want to maintain control of the audit function but have staffing needs for internal audit professionals, we provide the talent under your direction.

Internal Audit Outsourcing
Sometimes organizations are looking for broader and deeper internal audit expertise than they have internally or are looking for savings. In these cases, we provide the complete internal audit outsourcing function where clients can depend on our best practice approach while realizing cost-effective internal audit service due to savings from:

  • Outsourcing the expense of specialize talent rather than maintaining an in-house salary package.
  • Effectively managing all contingency costs associated with an internal audit schedule.
  • Time and effort required by top management to internally manage the internal audit effort.

Staff Augmentation
We also provide talented professionals on an as-needed basis to some of our clients. Our experienced staff eliminates training time, minimizes work disruption and fosters continuity on assignments.

Contact

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