 Board assurance support
Obtaining the independent assurance demanded by the UK Corporate Governance Code can be a challenge, especially where the business does not warrant a full internal audit and there is no NED internal control expert. PKF’s assurance support offers a way of addressing this gap and more, whilst minimising the cost
The board should, at least annually, conduct a review of the effectiveness of the company’s risk management and internal control systems.
Extract from Section C Accountability of the UK Corporate Governance Code 2010.
PKF provides an alternative, hybrid advisory and assurance service. Our Audit Committee Advisors are experienced partners and directors who can provide independent advice on risk and internal control issues to NEDs and management. They also develop and quality assure risk based assurance programmes delivered by your staff, with support from our specialists, to provide the Audit Committee and Board with a robust basis for meeting their governance responsibilities.
PKF provides:
An assurance service with the flexibility, range of expertise and quality of outsourced internal audit without the cost;
Independent expert advice to the Audit Committee and Board on risk and internal control;
Access to other expert advice at no additional cost; and
Support in developing knowledge and internal control capability.
Services offered
SUPPORT TO THE BOARD AND AUDIT COMMITTEE
- Risk maturity assessments
- Support in developing and operating risk management
- Advice on control concerns and emerging issues and their possible implications
- Advice on control and assurance needs
- Advice on governance needs
- Horizon scanning
- Training
INTERNAL CONTROL ASSURANCE
- Advice on potential risks within activities and projects
- Support in assessing internal control needs
- Advice on options to improve internal control
- Access to specialist advice for example in tax, IT and HR
- Development of assurance framework
- Specification and quality assurance of assurance reviews carried out by your staff
- Independent assessments of risk management and internal control
For further information on PKF’s board assurance support, please contact Richard Weighell on 020 7065 0397 or richard.weighell@uk.pkf.com
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