EisnerAmper Ireland | Internal Audit Services | Audit Services | Financial Services Ireland

A NASDAQ listed electronic trading company had an internal audit requirement relating to their international subsidiary based in Dublin. Due to local regulations, the client required an internal audit service provider that has a global presence with the necessary local expertise.

EisnerAmper’s New York and Dublin offices worked together to design and deliver a solution involving Internal Audit teams in both offices working to meet client needs and requirements of the regulatory bodies in both jurisdictions.

As a result of engaging with EisnerAmper, the client now has compliance, controls and risk management procedures in place that are aligned with their organisation’s objectives and that span multiple locations and regulatory landscapes.

The regulator of an Irish government body was seeking to evaluate and improve the effectiveness of the organisation’s governance, risk management and internal controls in addition to the quality of performance in carrying out assigned responsibilities to achieve the organisation’s stated goals and objectives.

EisnerAmper Ireland was engaged and provided, inter alia, the following:

• Evaluation of risk exposure relating to achievement of the organisation’s strategic objectives;
• Evaluation of the reliability and integrity of information and the means used to identify, measure, classify and report such information;
• Evaluation of the systems established to ensure compliance with those policies, plans, procedures, laws and regulations which could have a significant impact on the organisation;
• Evaluation of the means of safeguarding assets and, as appropriate, verifying the existence of such assets;
• Evaluation of the effectiveness and efficiency with which resources are employed;
• Evaluation of operations / programs to ascertain whether results are consistent with established objectives and goals and whether the operations or programs were being carried out as planned;
• Monitoring and evaluation of governance processes;
• Monitoring and evaluation of the effectiveness of the organisation’s risk management processes;
• Consulting and advisory services related to governance, risk management and control as appropriate for the organisation;
• Periodic reporting on the internal audit activity’s purpose, authority, responsibility and performance relative to its plan;
• Significant risk exposures and control issues reporting, including fraud risks, governance issues and other matters needed / requested by the Regulator; and
• Evaluation of specific operations at the request of the Regulator or management, as appropriate.

As a result of engaging with EisnerAmper Ireland, the organisation received a comprehensive and independent evaluation with numerous recommendations for improvement of their governance, risk management and internal control functions.

A leading international reinsurance and insurance group was seeking to outsource the internal audit function of their Irish subsidiaries to help the Board protect the assets, reputation and sustainability of the organisation.

EisnerAmper Ireland was engaged and provided, inter alia, the following:

• Pre-Approval Controlled Function-13 (PCF-13) Head of Internal Audit role-holder services;
• Quarterly Internal Audit Reports presented to the Board on the system of internal control; and
• Recommendations to Senior Management to improve the internal control, risk management and governance environment.

As a result of engaging with EisnerAmper Ireland, the international reinsurance and insurance group’s Irish subsidiaries achieved demonstrable compliance with appropriate regulation, have improved internal controls, enhanced risk management and governance environment and continues to avail of on-going internal audit services from market leading specialists.