Top 10 Internal Audit Consultants & Consulting Firms
Internal audit consultants and consulting firms are unsung heroes, ensuring that companies not only comply with regulations and standards but also optimize their operations for efficiency and risk management.
Internal audit consultants and consulting firms are crucial in helping businesses maintain compliance with ever-changing regulations and standards. They offer a level of expertise and attention to detail that is crucial for identifying potential risks and inefficiencies within a company's operations. By providing independent and objective evaluations, these consultants can help businesses streamline processes, thus leading to increased productivity and reduced risk of non-compliance.
In this article, we’ll explore 10 highly praised internal audit consultants, helping you make an informed decision.
TL;DR: Top 10 Internal Audit Consultants & Consulting Firms
Alpha Apex Group: Alpha Apex Group enhances business operations with unmatched internal audit expertise, utilizing advanced methodologies to strengthen control environments, ensure regulatory compliance, and offer strategic insights for operational excellence.
Protiviti Internal Audit Services: Protiviti offers comprehensive internal audit services with a focus on innovation, risk management, and organizational value enhancement through a variety of auditing and advisory solutions
Wipfli: Wipfli specializes in internal audit solutions tailored to organizational risks and objectives, providing co-sourced and outsourced audit services that address compliance and operational challenges
EY Consulting Internal Audit: EY Consulting employs a forward-looking, technology-driven approach to internal audit, aiming to transform the audit function and provide comprehensive risk management and business insights
Kellerman Consulting Internal Audit Consulting: Kellerman Consulting focuses on internal audit and compliance consulting within food safety and quality management, offering customized support for achieving and maintaining industry standards
NEC IT Services: NEC IT Services delivers quality management system evaluations and improvements, specializing in internal and supplier auditing to enhance operational efficiency and compliance across supply chains
Alpha Apex Group, Leaders in Internal Audit Consulting.
Alpha Apex Group is distinguished as a leading consultancy in internal audit services, offering unparalleled expertise to organizations seeking to enhance their internal control environments, improve operational efficiency, and ensure regulatory compliance. Their team of seasoned professionals provides comprehensive internal audit solutions, ranging from risk assessments and audit planning to execution and reporting. By leveraging cutting-edge methodologies and technologies, Alpha Apex Group delivers insights that help businesses identify and mitigate risks, capitalize on opportunities for improvement, and align their internal audit functions with strategic objectives.
Key Services:
Risk assessment and audit strategy development
Operational, financial, and compliance audits
Corporate governance and risk management consulting
Regulatory compliance and advisory services
Process improvement and optimization
IT audit and cybersecurity assessments
Why work with Alpha Apex Group:
Engaging with Alpha Apex Group for internal audit consulting ensures that organizations benefit from a strategic approach to internal auditing that goes beyond mere compliance. Their expertise not only identifies areas of risk and inefficiency but also provides actionable recommendations for strengthening internal controls and enhancing business processes. Alpha Apex Group's commitment to delivering value-added audit services positions them as a vital partner for companies aiming to achieve operational excellence and maintain a robust internal control environment.
Protiviti is a distinguished provider of internal audit services. Their approach is centered on delivering world-class services by integrating innovative practices and technologies. They focus on enhancing and protecting organizational value through risk-based and objective audits, assessments, and advisory services.
Key Services
Internal Audit Co-Sourcing & Staff Augmentation
Internal Audit Full Outsourcing
Alternative Delivery Models
Technology Audit Services
IT Audit Services
Fraud Risk Management
Sarbanes-Oxley Compliance
Financial Investigations
Capital Projects Consulting
Audit Committee Advisory
Financial Reporting Remediation & Compliance
Why Work with Protiviti
Protiviti stands out for its comprehensive expertise in internal audit and financial advisory, delivering deep technical and industry knowledge. They focus on innovation and a broad range of sourcing solutions, including outsourced and delivery center capabilities.
Wipfli’s approach is centered around a deep understanding of organizational risks, using industry-experienced auditors to develop risk-focused audit plans. Wipfli stands out for offering both co-sourced and fully outsourced solutions, encompassing internal control assessments, operational audits, and specialized projects. They prioritize creating customized solutions tailored to each client's unique challenges and objectives.
Key Services
Co-sourced and fully outsourced internal audit solutions
Internal control risk assessments
Operational audits
Specialized project needs
Why Work with Wipfli
Wipfli's expertise in risk management and customized auditing solutions make them a strong partner for organizations seeking to enhance their internal audit functions and address specific compliance and operational challenges.
EY Consulting's Internal Audit services are crafted to enhance and maintain trust in internal audit functions while ensuring effective business risk management. This service is characterized by its forward-looking, technology-empowered approach to internal audit transformation, balancing the focus on people, process, and purpose for long-term value.
Key Services
Addressing Business Challenges: EY’s services are essential in guiding leadership through various business risks, moving beyond traditional audit approaches to provide comprehensive assurance coverage and meaningful business insights.
EY Virtual Internal Auditor (EY VIA): Central to their offering is the EY Virtual Internal Auditor (EY VIA), a tool that facilitates holistic transformation of the internal audit function across people, processes, and technology
Service Features: EY's IA services include continuous risk, control, and transaction monitoring, alongside actionable insights for performance enhancement
Innovative Digital Platform: EY VIA offers a unified solution for entire organizational coverage, shifts from traditional sampling to full population testing for in-depth risk assessment, and enables faster risk and process navigation
Why Work with EY
EY's commitment to integrating technology and innovative strategies in internal audit services caters to the dynamic needs of modern businesses, focusing on managing risks and fostering growth.
Kellerman Consulting is an expert in internal audit consulting, especially within the food safety and quality management system domains. Their services are designed to assist businesses in preparing and executing successful internal audits. They emphasize the importance of thorough preparation and planning for an audit, covering aspects such as selecting the right audit team, scheduling, and using effective audit methods.
Key Services
Internal Audit Consulting
Food Safety Compliance Consulting (including FSMA, HACCP, and FSVP)
Quality Management System Certifications (like ISO 9001 and GMP)
Customized training and educational resources for clients
Why Work with Kellerman
The firm prides itself on a client-centered approach, ensuring that they provide practical solutions and support to help businesses achieve and maintain compliance with various food safety standards.
NEC IT Services focuses on evaluating and improving quality management systems (QMS) within organizations and across supply chains. Their expertise covers a range of areas like ISO certifications, safety and environmental management systems, and specialized processes such as NDT and welding. NEC IT Services also offers consultancy for establishing and improving QMS, enhancing supply chain evaluations, and reducing purchasing risks.
Key Services
Internal and Supplier Auditing
Audit Consultation
Quality Management System Development
Supplier Capability Assessment
Why Work with NEC IT Services
NEC IT Services provides expert and comprehensive auditing services that ensure quality and compliance across organizational and supply chain processes, essential for companies aiming to enhance their operational efficiency and quality assurance.
7. Xcina Consulting
Xcina Consulting provides expert internal audit services, focusing on increasing organizational confidence and assurance in governance, risk management, and internal controls. Their services are designed to align internal audits with organizational objectives, enhance stakeholder confidence in risk management, and provide access to specialized expertise.
Key Services
Internal Audit Transformation
Full Outsourcing of Internal Audit
Internal Audit Co-Sourcing
Internal Audit Quality Assurance Reviews
Why Work with Xcina Consulting
Their approach to internal auditing offers flexibility, expertise, and alignment with best practices, making them a valuable partner for organizations seeking to enhance their internal audit functions and manage risks effectively.
8. Transcendent Group
Transcendent Group focuses on enhancing governance, risk management, and control processes for their clients. They cater to a diverse range of sectors, including financial services, government, healthcare, and others. Their approach is tailored to deliver value-added assurance and objective advice aimed at augmenting organizational value.
Key Services
Outsourced Internal Audit
Co-Sourcing Solutions
Interim Audit Services
External Quality Assessments (EQA)
Assurance Mapping
Risk Assessment
Data-Driven Assurance
Specialized Training
Why Work with Transcendent Group
Transcendent Group stands out for their specialized focus on internal audit services, offering a range of solutions that enhance governance and risk management, tailored to the unique needs of various industries.
9. Crowe LLP
Crowe LLP is a multifaceted organization that specializes in public accounting, consulting, and technology. They are known for integrating deep industry knowledge with innovative approaches. Crowe provides a wide range of services including audit, tax, advisory, and consulting. The firm operates on a global scale, offering its expertise to a diverse array of industries such as agribusiness, banking, healthcare, insurance, life sciences, manufacturing, real estate & construction, technology, and telecommunications.
Key Services
Audit Services: Utilizing a risk-based financial statement audit with a technologically advanced approach
Consulting Services: Managing technology integration and digital transformation tailored to specific industries
Internal Audit Services: Providing specialized audits focusing on process improvements, opportunity identification, and strategic priorities
Information Technology Audits: Specializing in IT audits to identify and mitigate risks and uncover efficiency opportunities
Enterprise Risk Management: Enhancing ERM with a hands-on approach to identify areas with growth potential
Why Work with Crowe LLP
Crowe stands out for its deep expertise across various industries, combined with a commitment to creating value through innovation and deep understanding of industry-specific challenges. They have a strong focus on delivering solutions that are tailored to the unique needs of each industry they serve, coupled with a wide range of specialized services.
10. UHY James
UHY James specializes in internal audit and risk consulting services. They focus on improving governance and risk management in organizations. They aim to help businesses adopt best practices and effective governance to adapt to changing business environments and risks.
Key Services
Risk Assurance
SOP Development
Forensic Audits
ICFR Review
Fixed Asset Management
Why Work with UHY James
UHY James is adept at guiding organizations in enhancing their governance and risk management frameworks, ensuring they are well-equipped to navigate different business challenges and risks.
11. Corporate Investigation Consulting LLC
Corporate Investigation Consulting LLC is a specialized firm offering internal audit and consulting services across a wide range of industries, including healthcare, finance, and technology. The firm is uniquely staffed with former federal agents who bring extensive experience in compliance from both private-sector risk management and government enforcement perspectives. This distinct background provides clients with strategic and informed decision-making capabilities, particularly in areas of corporate compliance and risk management.
Key Services
Internal Audit Services: The firm conducts thorough internal audits for various compliance needs, including statutory and regulatory compliance, as well as risk assessment and management. They handle everything from audit planning and strategy development to execution, providing practical advice for continuous improvement
Compliance Consulting: Covering a broad spectrum of compliance areas, the firm offers consulting services in FDA compliance, DEA compliance, healthcare compliance, DFARS compliance, HIPAA compliance, regulatory compliance, BSA/AML compliance, export compliance, environmental compliance, and pharma compliance
Digital Forensics and Cybersecurity Investigations: Addressing the ever-growing concerns around cybersecurity, the firm offers specialized services in digital forensics and cybersecurity, ensuring the safety and integrity of their clients’ digital assets
Risk Management Audits: Focusing on identifying and mitigating potential risks, the firm conducts comprehensive risk management audits tailored to the specific needs of different industries
Why Work with Corporate Investigation Consulting LLC
Corporate Investigation Consulting LLC stands out for its team of former federal agents, offering a unique blend of government and private sector expertise. This allows for a deep understanding of compliance and risk management from multiple angles, ensuring that clients receive informed and strategic guidance.
Key Factors to Consider When Choosing an Internal Audit Consultant
When selecting an internal audit consultant or consulting firm, several factors should be taken into account to ensure that you receive the best service and value for your organization. Here are some key considerations:
Look for consultants with a proven track record in internal auditing. Their experience in your industry can be invaluable.
Ensure that the firm offers a comprehensive range of services that align with your specific internal auditing needs
The consultant should employ up-to-date methodologies and tools that are in line with current industry standards
It’s crucial that the firm is well-versed in relevant laws and regulations to help you maintain compliance
Effective communication and clear reporting mechanisms are essential for a successful partnership
What Internal Audit Consultant Will You Choose?
The ideal internal audit consultant should not only bring expertise and experience but also align with your company's culture and values. Ultimately, the right consultant will not only help you navigate through the complexities of internal auditing but also empower your organization to identify areas for improvement and growth.
