An Internal Audit Firm Led by Former Federal Agents
Internal Audit Team Lead – Roger Bach | Former Special Agent (DOJ-OIG & DEA)
Our internal audit firm provides consulting services and internal audit services to companies nationwide. We work with companies in all industries and industry sectors, from hospitals and pharmacies to private equity funds, financial institutions, and family investment offices. Having formerly served in top positions at the Federal Bureau of Investigation (FBI), U.S. Department of Justice (DOJ), and other federal investigative agencies, our internal audit team of consultants and specialists are well-versed in contemporary audit tactics and internal auditors standards. We employ the industry’s leading practices and innovative methods and bring centuries of relevant experience to help companies avoid liability during federal inquiries from external auditors.
Conducting Internal Audit: Why (and When) Are They Necessary?
Companies in various industries must conduct internal audits on an ongoing basis to ensure statutory and regulatory compliance and, as a form of risk assessment and risk management, assess the current internal controls of an organization. From compliance with securities law to the Controlled Substances Act and Medicare billing rules, companies’ compliance obligations can take many different forms.
We assist companies with all aspects of internal auditing, from developing audit plans and strategies to conducting the audits themselves. We assist our clients both on-site and remotely and provide concrete and practical advice that our clients can use to make informed decisions for continuous improvement in real-time.
In addition to assisting with scheduled internal compliance auditing, we also consult with companies regarding ad hoc internal audits as well. The need to conduct a targeted internal audit can arise under various circumstances. For example, we routinely consult with companies that are facing matters such as:
- Federal compliance audits and investigations
- Civil and commercial litigation
- Employee harassment, discrimination, and wrongful termination claims
- Cybersecurity breaches
- Mergers and acquisitions
Regardless of why internal audit services are necessary, comprehensiveness is the key to making informed decisions. If any data source goes overlooked, this could frustrate the entire purpose of the audit.
With our consultants’ and specialists’ backgrounds and expertise, reporting findings using our benchmarking data, we are able to identify emerging risks and ensure that our clients have all of the data they need, and we are able to help them make strategic decisions with confidence using our internal audit services.
Put our highly experienced team on your side
Roger Bach
Former Special Agent (OIG)
Timothy E. Allen
Former Senior Special Agent U.S. Secret Service
Chris J. Quick
Former Special Agent (FBI & IRS-CI)
Maura Kelley
Former Special Agent (FBI)
Ray Yuen
Former Supervisory Special Agent (FBI)
Michael S. Koslow
Former Supervisory Special Agent (DOD-OIG)
Marquis D. Pickett
Special Agent U.S. Secret Service (ret.)
Internal Audit Outsourcing & Our Internal Audit Services
We provide comprehensive internal audit consulting services (including those for home health/hospice and laboratory audits) focused on ensuring that our clients have the information they need when they need it. For regularly scheduled and ad hoc internal audits, our services include:
- Pre-Audit Due Diligence – We determine the appropriate scope of the internal audit, identify all relevant data sources, and determine which internal personnel should (and shouldn’t) be involved in the audit process.
- Audit Structuring and Planning – We structure and plan our clients’ internal audits to ensure they are comprehensive and efficient.
- Audit Execution – We conduct all aspects of the internal audit itself, from working with third-party data storage vendors to using our in-house information technology to scan employees’ laptops, phones, and tablets for relevant information.
- Management and Oversight – When working with internal personnel during the audit process (as will often be necessary to ensure access to all relevant data), we manage and oversee these personnel on the audit committees so that our clients’ leaders can remain focused on conducting business as usual.
- Data Analysis and Reporting – Relying on their extensive government and private-sector experience, our consultants analyze the data in light of the concerns or obligations underlying the internal audit and report to our client’s leadership teams with summarized data and financial advisory and recommendations that they can use to lead their companies forward.
FAQs: Internal Corporate Audits
How often should my company be conducting internal audits?
The frequency with which companies should conduct scheduled internal audits depends on factors ranging from the internal audit functions to the company’s compliance history. While conducting an annual full-scale internal audit is a good rule of thumb, there are various circumstances in which it will be prudent to conduct internal audits more frequently as well.
Why shouldn’t my company handle its own internal auditing in-house?
Conducting an internal audit requires expertise in both the subject matter of the audit, the internal audit function, and the necessary auditing procedures. Unless your company has personnel with this combined expertise in-house and an internal audit department, you will need to engage in internal audit outsourcing with an experienced firm to handle your company’s internal audits.
What should my company do if an internal audit reveals compliance deficiencies or other failures?
Too often, companies view internal auditing as an effort to rubberstamp their policies and procedures. However, an internal audit should not be biased toward one particular outcome but rather designed to produce accurate and reliable information—whatever that information may be.
If an internal audit reveals deficiencies in the company’s internal controls or other failures, then the next step in the internal audit process is to determine what needs to be done in order to remedy the issues that have been identified. In addition to providing internal audit services, including consulting, we assist our clients with all aspects of compliance, cybersecurity, and risk management.
What are the steps involved in conducting an internal audit?
There are several steps involved in the internal audit process. When clients engage us to help them conduct internal audits, our process starts with identifying the specific reason (or reasons) for the internal audit, as well as the internal audit function or internal audit functions. Internal audits can target a virtually endless list of potential corporate concerns, and determining the scope of the audit is the first step toward gathering actionable intelligence.
Next, we work with our clients to structure their internal audits considering their organizational structure, the sources of information that need to be examined, and other factors. Then, we work with our client to develop a collaborative team of internal personnel and consultants from our firm, including selecting the internal auditors. Finally, we conduct the audit itself, processing relevant data in real-time so that our clients can make informed decisions as soon as possible.
Does my company need to hire a consulting firm to conduct internal audits in addition to engaging legal counsel?
Yes. There are several benefits to engaging the right strategic consulting firm in addition to engaging legal counsel when conducting an internal audit. Former federal agents who lead our internal audit firm bring a wealth of unique experience and insights to helping companies structure and conduct internal audits, and we work with our clients’ legal counsel to address deficiencies in our clients’ policies and procedures when necessary.
Schedule an Appointment With Our Internal Audit Consultants
If you would like more information about our internal (and healthcare) audit consulting services, whether it’s internal audit consulting for business strategy, for mitigating risks in your existing systems or to identify opportunities for better risk coverage, organizational goals, or external auditors that use leading practices and international standards, we encourage you to get in touch. To speak with a senior former federal agent about your company’s needs in confidence, please call 866-352-9324 or inquire online today.
Further Information About Our Internal Audit Consulting
- Employee Theft Investigation Services
- Fraud Investigation Services
- How Does the Attorney-Client Privilege Work in Internal Investigations?
- How to Conduct an Internal Investigation
- Internal Audit Versus External Audit – Pros and Cons
- IRS Audit Defense Representation
- Checklist for a Corporate Internal Investigation
- Conducting Corporate Investigations for FCPA Compliance
- Conducting Corporate Investigations for SEC Compliance