Internal Audit Solutions

Evaluate Performance and Manage Risk with an Internal Audit

Internal Audit is a key component in any organization’s plans to maximize the efficiency of operations and proactively secure their assets (cash, intellectual property, data, etc.). It enables you to stay ahead of internal and external threats by continuously identifying and correcting vulnerabilities through a systematic and risk-based approach.

GRF’s team of CPA/CIA/CFE/CISA/CRISC/CITP/CEH certified professionals provide risk-based Internal Audit solutions across all aspects of operations for domestic and international organizations. After developing an in-depth understanding of the client’s operations and risks, GRF helps prioritize and assess key processes to identify vulnerabilities, enhancements, opportunities for automation, and best practice recommendations.

Risk Assessment and Planning

  • Annual Risk Assessment and Strategic Risk Identification
  • Budget and Timing Projections
  • Development of Internal Audit Plan

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Internal Audit Plan Execution

  • Onsite and Remote Fieldwork
  • Observations and Recommendations for Risk Mitigation and Process Enhancement

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Monitoring and Reporting Internal Audit Activity

  • Maintenance of Risk, Observation Register(s), and Internal Audit Plan
  • Reporting to Management, Board, and/or Delegated Committee
  • Internal Audit Data Analytics

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Customized Internal Audit Solutions Provide the Best Results

We serve as independent, trusted advisors to our clients in developing effective and custom-tailored Internal Audit plans through outsourced and co-sourced arrangements. Our practical, right-sized solutions are developed by first understanding your organization’s industry, strategic objectives, and control environment. This allows us to customize our Internal Audit plans accordingly.

We provide a comprehensive offering of Internal Audit solutions including, but not limited, to the following:

  • Risk Process Reviews
    • Strategic
    • Financial
    • Operational
    • Technology/Cybersecurity
  • Risk Management
  • Accounting and Financial Controls Assessments
  • SOX Project Management (Key Controls Evaluations)
  • Financial Audit and Single Audit Readiness
  • Fraud Control and Prevention
  • Information Technology and Cybersecurity
  • Business Continuity and Disaster Recovery
  • Third Party Risk Management (TPRM) & Vendor Audits
  • Board Governance Assessments
  • Enterprise Risk Management
  • Pre- and Post-Strategic Initiative Assessments
  • Culture, Human Resources and Talent Management Assessments
  • Payroll Assessments
  • Campaign Finance and Reporting
  • Field Office Assessment (specializing in international locations)
  • Whistleblower Assessments
  • Accounting Systems Assessments
  • Global and Deep-Dive Internal Audits
  • Program Assessments
  • Strategic Plan Assessment
  • Procurement Audit
  • Uniform Guidance Compliance Assessment

GRF’s Internal Audit Capabilities

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Case Study: Internal Audits Reduce the Risk Associated with Global Operations

Geographically dispersed organizations tend to have inconsistent policies and procedures across offices in different countries. This is often necessary to operate effectively, but it also represents inherent risks. This case study describes how one international nonprofit conducted an internal audit to effectively minimize the organizational risk associated with key business processes administered at headquarters — as well as at its field offices across the world.

Read a case study

GRF’s Risk & Advisory team is active in the community

The Institute of Internal AuditorsMelissa Musser, CPA, CITP, CISA, and GRF Partner, is the president of the Washington, DC Chapter of the Institute of Internal Auditors (IIA DC).

Mac Lillard, CPA, CFE, CISA, CRISC, CITP, PCIP, serves as the chapter’s associate vice president of programs.

Partnership with NC State University

NC State Poole College of Management

Since 2019, GRF has joined forces with NC State’s Poole School of Management for an annual 3-part workshop around Enterprise Risk Management and nonprofit risk. Learn more >>

Members of the Risk & Advisory team hold certifications and professional memberships within a number of industry organizations.

Upcoming Events

Dec 20

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Melissa Musser, CPA, CITP, CISA

Partner and Director, Risk & Advisory Services