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Co-Sourcing for
Greater Results
A large financial institution's internal audit department needed to perform audits
of the firm's highly complex technologies and systems. However, their staff did
not have the necessary technical skills and expertise, and traditional co-sourcing
arrangements with accounting firms could only provide entry-level auditors or
generalists who also lacked the necessary technical expertise.
The client selected SecureIT as its co-sourcing partner for IT audits. In addition
to providing the extra manpower needed to finish projects according to the annual
audit plan, our consultants brought a combination of technical skills and breadth
of experience that have improved the depth and quality of the client's audits.
Working as part of their internal audit project team, we took on their most technologically
challenging audits — notably those in the security area. Through this arrangement,
our consultants worked with the client's internal auditors to complete a highly
effective audit. The organizational knowledge of the client's audit staff, combined
with our technical competence and external perspective, produced an ideal team.
By partnering with SecureIT, the internal audit department was able to complete
audits of technical areas and identify significant control gaps to a degree that
they never had before. Because the quality and technical depth of audits has
increased, the internal audit department has also strengthened its credibility
and earned the professional respect of key IT personnel. An added benefit of
our partnership has been the mentoring and training of internal audit staff by
our consultants. Through regular interaction, internal auditors have enhanced
their knowledge and expertise, and now handle a broader variety of technical
matters themselves.
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