Expert internal auditors
We have vast expertise in delivering internal audits specific to the sector's requirements.
- Audit plans meet the specific requirements of institutions to focus on the highest-risk areas and deliver value for money.
- Our internal audits provide the governing body of a Higher Education institution with an objective evaluation and opinion on the overall adequacy and effectiveness of the operational delivery of an institution.
- We focus on various areas, including governance, risk management and control processes.
We aim to add value and improvements to how an organisation is operating; we want our institutions to accomplish their objectives with a systematic, disciplined approach delivering profound, long-lasting effects.
Our unique structure allows us to absorb institutional cultures and working practices, learning the strengths and weaknesses in depth.
We also provide a wide range of expert internal management consultancy to provide support and advice during organisational change and rationalisation periods.
Find out more about our services
KCG has five key stages to deliver a tailored internal audit programme:
- Develop a thorough understanding of your institution and its objectives, through discussion and a review of relevant documentation.
- Assess your institution’s current approach to risk management and decide whether it will support the development of a strategic risk-based internal audit plan.
- Identify and assess the key risks that could have a significant impact on your institution or department reaching its objectives.
- Develop the internal audit plan and obtain agreement from you that the plan is focused in the right areas before approval by the audit committee.
- Have regular re-appraisal of your potential risks that affect the scope and direction of the internal audit plan.
Our audit plans are tailored for your needs and timetabled in agreement with you.
In addition to delivering internal audits through company membership, we also work with non-members, delivering these key services:
Outsourced internal audit
A range of audit solutions, including creating an audit strategy, assessing audit needs and planning, performing all audit work on your behalf and acting as head of an internal audit
Co-sourced internal audit
We supplement your in-house team with our specialist skills, including project management expertise and ICT.
Effectiveness and improvement
Effectiveness reviews assess how well your institution is operating and what key improvements could make things work more smoothly to meet the needs of the business.
Examples of audits included in our plans
Financial systems and controls - Running a tight ship financially is key to the success of any organisation, with HE institutions no different; with the complexity and range of each organisation’s business processes differing, that means internal controls need to be designed effectively, are proportionate and operationally effective.
These controls need to be effective so that key risks are being mitigated to assure the financial success of the organisation. The main aim is to ensure the controls for financial information are adequate and consistent with standards established for accounting assertions and enable us to provide assurances that they are working effectively
We look at these specific areas:
Business process controls
To make sure things are working as they should, we will look through things like the number of recorded transactions, how complete those transactions are, their accuracy and validity, making sure they’ are recorded in the proper accounts and in the correct accounting period.
General computer controls
We will look through controls for system development, changes, access to programs and data and continuity of operations, as well as the overall governance of the financial system.
We will then document control objects, assessed risks, key controls and residual risk. We draw out key strengths and positive aspects, while also providing recommendations that are useful and framed within the context of your institution and working environment.
Back to Our Services
Discuss Your Needs With
Our Experienced Team
- Curious to find out how KCG could help your institution
achieve its goals? - Are you in need of independent, objective assessments of
your operations?
Get in touch with our team to find out how KCG could help your institution.
Email | enquiries@kcgaudit.co.uk
Call | +44 (0) 33013 38065
KCG Audit Limited, 7 Bell Yard Street, London WC2A 2JR
Company Number 09075270 England