The role of internal audit is to provide independent assurance that an organization's risk management, governance and internal control processes are operating effectively. While performing these functions they are also tasked with looking for and managing or eliminating risk and finding gaps in operations and procedures that can lead to revenue leakage.
Upon identifying these areas they look at root cause analysis and determine cause and corrective action to remedy the gaps they identify.
Internal Audit is considered a cost center. As such they often find themselves in a position where although the work they are tasked with is considered essential there is often a lack of budget and a lack of staff to accomplish everything on their task list. Due to that there are often a number of items left that do not receive the validation Internal Audit would like to see.
RLC is here to assist Internal Audit. Our team becomes an extension of your Internal Audit team. The beauty of it is you will gain several extra team members to help validate items you would never normally get to. You receive all of this without having to budget for it since we work on a contingency basis.
Additionally the audits we are able to employ in your behalf will find credits your company was unaware of which helps to transform Internal Audit from a cost center to a profit center.
RLC Supplier Credit Recovery (pdf)
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