What is Internal Audit?

May 2025 was Internal Audit Month (yes, it’s a real thing!), which meant it was a great chance to talk about what an internal audit really does and how it can support your business.

Leisyen Cox, Associate Audit Partner takes a look at the specialist internal audit services we offer at Scrutton Bland, to help organisations of all sizes get clear, practical insights without the need for an in-house team.

What Does An Internal Audit Service Do?

An Internal audit is about making sure your business is working as it should.

It looks at how risks are managed, how controls are working, and whether processes could be improved to enhance efficiency and effectiveness.

The aim isn’t just to spot problems, but to help you run your business more smoothly and confidently.

And the main goal is to help your organisation achieve its objectives by not only making sure you have the best possible frameworks in place, but that they’re working effectively too.

Internal Audit can look at a wide range of areas, including:

• Risk management (how you identify and deal with risks like financial loss, supply chain issues, or cyber security threats)
• Governance (how decisions are made and how your business is directed)
• Internal controls (the checks and balances in place to keep things running smoothly and prevent errors or fraud)
• Compliance (making sure you’re following relevant laws, regulations, and internal policies)
• Operational processes (how efficient and effective your business practices are)

As internal auditors are independent from the areas they review, they can give objective feedback and report directly to senior management or the board, often through the audit committee

Why Outsource Internal Audit?

Many businesses choose to outsource internal audit because it’s flexible and more cost-effective. But it gives you access to a wider range of expertise too.

Here’s what you can expect when you work with us:

Fresh Perspective: We look at your business with clear, independent eyes, helping you see things you might miss internally.

Specialist Skills: Our team has experience across different sectors and keeps up to date with the latest regulations and risks.

Flexible & Bespoke Service: Whether you need a full internal audit programme or just a review of a specific area, we tailor our approach to fit your needs.

Clear Recommendations: We focus on practical advice you can act on, rather than lengthy reports.

What Do Internal Audits Do?

Internal audit isn’t about catching people out or focusing only on what’s wrong.

Instead the focus is on helping you to understand your risks, spot opportunities, and make better decisions.

Our clients often tell us that our work has helped them streamline processes, strengthen controls, and feel more prepared for the future.  Here are some of the key benefits:

Stronger Controls – Internal audit checks that your controls are well designed and working properly, helping to prevent mistakes, fraud, or losses.

Improved Efficiency – Auditors often spot ways to streamline processes, cut out unnecessary steps, and save time or money.

Better Security – Internal audit can highlight weaknesses, such as in the areas of cyber security or data protection, helping you close gaps and keep your business safe.

Reduced Risk – By identifying and addressing risks early, internal audit helps you avoid costly surprises and prepares you to handle challenges more effectively.

Assurance for Stakeholders – Regular internal audits give your board, investors, and other stakeholders confidence that the business is being managed properly and risks are under control.

Compliance – Internal audit checks that you’re following the rules – whether that’s industry regulations, legal requirements, or your own policies – helping you avoid fines or reputational damage.

Fraud Prevention – Regular reviews make it harder for fraud to go unnoticed and help create a culture of accountability and integrity. Our team includes qualified Counter Fraud Specialists, allowing us to provide proactive fraud advice and guidance, along with reactive fraud investigatory work if required.

Quality and Improvement – An audit doesn’t just point out issues; it also highlights what’s working well and shares best practices, supporting continuous improvement across your business.

Sharing Success

We believe in open communication and sharing what works. Before we start any project, we’ll explain our approach in plain English and highlight the benefits you can expect. We also share examples of how internal audit has made a difference for other clients, so you can see the value for yourself.

Let’s Start the Conversation

Internal Audit Awareness Month is a good reminder to think about how internal audit could support your business goals. If you’re considering outsourcing, or just want to know more about how we work, we’re always happy to chat.

Get in touch with Leisyen or one of the team by calling 0330 058 6559 or email hello@scruttonbland.co.uk to find out how our risk & assurance services could help your organisation.