Internal Audit

Internal AuditThe Institute of Internal Auditors International Professional Practices Framework (“IPPF”) defines internal auditing as an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Oyster can act as a resource to your internal audit department by providing subject matter experts to improve the overall quality of your audits, or act as an outsource provider your firm. In an Internal Audit, Oyster will:

  • Analyze your firm’s risk profile and control environment
  • Design and test the effectiveness and efficiency of your firm’s controls
  • Document the review
  • Work with your firm’s management to recommend ways to remediate any gaps and improve the firm’s control environment
  • Customize the review based on your firm’s business activities and risk profile
  • Provide outside, experienced, objective subject matter experts to advise and assist your internal audit department
  • DOL Fiduciary Rule Assessments and Compliance

The Oyster Difference

Oyster has a tailor-made approach to internal auditing. Our experts have years of industry experience and can quickly assess through thoughtful and skillful questions what areas of your firm present the most risk and design and implement the appropriate testing and analysis. In addition to identifying potential problem areas, Oyster will provide your firm with recommendations for operational enhancements to achieve industry best practices.