Co-Sourcing

Augments and bring in mandated improvisation to existing internal Audit capabilities and resources of your organization through strategic partnership. Assist the Internal Audit function to meet the needs of the stakeholders. Astral will assist the Internal Audit department in Planning the Audit activity

Assessing & establishing the staff requirement

Identifying the training needs for Internal Auditors

Imparting the skill sets required for Auditing

Directing on how to manage the audit process

Monitoring the audit process

Establishing Measure of Performance for Internal Audit Activity.

MEANS METHODS AND OUTCOME

Defining the scope and strategies
Hand in hand execution: A business process involvement where Astral's Advisors work in union with the in-house team towards achieving the set objectives of the IA function and
Monitoring performance and effectiveness of the collective measure

Benefits

The scope of the Internal Audit function is clearly defined and effectively carried out with the help of a collective mechanism
Internal audit is carried out within a recognized frame work and proven risk assessment methodologies, stated clearly with necessary details
The competency required for audit personnel involved in the process are identified and are bench marked with the current requirement for improvements
The Internal Audit Staff are trained in Computer Assisted Audit Techniques (CAATs) and other Internal Audit tools
The performance of internal audit function is appraised based on terms defined in the audit charter
Exchange and sharing of expert knowledge leading to constant skill up gradation and knowledge on current practices in Internal Audit methodology
A balanced Increase in the quality and output of the Internal Audit
Enhancement of IA process efficiency will minimize the cost of the IA function