Internal Audit: Strengthen Governance, Internal Controls, and Anticipate Risks
Organisations face increasing scrutiny over their governance and risk management. In an ever-changing regulatory environment and in the face of emerging risks, it is essential to ensure a proactive and transparent approach. Failure to effectively monitor and mitigate risks can lead to financial, reputational and regulatory consequences.
How can we assist you?
At BDO, we tailor our services to the reality of your organisation, whatever its size or sector. We develop customised solutions to reinforce internal auditing, strengthen internal controls and optimise risk management, ensuring greater security and compliance:
- External Quality Assessment of the Internal Audit Function (IA)
- Analysis of the compliance of the IA function with the new global Internal Audit Standards (IIA-The Institute of Internal Auditors Standards), which came into force in 2025
- Verification of the efficiency and effectiveness of the AI function and identification of opportunities for improvement
- Determining the perceived value of the AI function for the organisation
- Gap Analysis and Readiness Assessment (IIA-The Institute of Internal AuditorsStandards)
- Assessment of current standards in relation to new global Internal Audit standards
- Identification of action plans to be implemented to comply with new global Internal Audit standards, with prioritisation
- Support for the implementation of action plans
- Internal Audit – co-sourcing regime
- Strategic support in planning, executing tests and preparing reports to comply with the organisation's internal audit plan
- Internal audits of various internal or outsourced operational processes: support in identifying risks, controls and opportunities for improvement in various existing processes in different sectors, such as Purchasing, Accounts Payable, Accounts Receivable, Treasury, Payroll, IT systems auditing, Cybersecurity, technological resilience and digitisation, among others
- Compliance verification: (for more details, see Compliance Advisory Services - BDO)
- With Notices No. 3/2020 and No. 2/2025 of the Bank of Portugal
- From the public procurement process in accordance with Código de Contratação Pública
- Prevention of Money Laundering and Terrorist Financing (BCFT)
- Continuous monitoring of internal audits
- Follow-up on deficiencies identified in previous audits
- Advising the Audit Committee
- Data analytics using advanced tools (CAAT – Computer Assisted Audit Tools and Techniques) to make analyses more efficient and accurate
- Support on legal/regulatory applicability or highly recommended practices (best practices and measurement of ROI – Return On Investment benefits) in the internal audit function
Our services are provided by certified professionals and based on best practices and market frameworks, namely IPPF (International Professional Practices Framework) from IIA (The Institute of Internal Auditors), ISO (International Organisation for Standardisation), COSO (Committee of Sponsoring Organisations of the Treadway Commission), COBIT (Control Objectives for Information and Related Technologies) from ISACA, among others. In addition, we also take into account the legislation and/or regulations inherent to each sector, namely Notices from the Bank of Portugal and EBA (European Banking Authority), among others.
Identify Vulnerabilities and Maximise Opportunities with BDO
Contact us to discover how BDO can assist your organisation in transforming risks into opportunities.
To learn more about our internal control services, please visit (Controlos Internos - BDO)