Our client is a substantial listed PLC which has a requirement to substantially increase the scale and scope of its Internal Audit function. Initially there is a phase of assessing the key requirements for a Group Internal Audit function in context of the scale and complexity of the business. This will involve the following stages:-
- Review of Group operations, processes, controls and key risk areas and evaluation of current in-house Internal Audit provision;
- Scoping out project plan in terms of assessing the potential structure and model for provision of Internal Audit function (ie outsource, co-source or fully in house);
- Recommendation of preferred model for Internal Audit provision;
- Implementation of the selected model.
The assignment is expected to last for between 6 and 12 months and there may be a permanent role at the end of it.