Project & Programme Audits
There is increasing pressure for internal audit programmes to meet demand, due to:
- A rapidly changing business and technology environment
- The greater transparency demanded by shareholders, regulators and consumers
- The heightened awareness at board level of the need to manage risk
- Big ticket transformation programmes that are mission (business) critical and must be on time/budget/quality/delivery
So how can you supplement, strengthen and support internal audit teams to meet these fast-advancing requirements? Let’s take a look at what the IIA and NAO  define as an optimal audit space within the organisation:
The Institute of Internal Auditor’s definition of ‘Audit’:
“Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organisation's operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.” 
The National Audit Office’s definition of ‘Assurance’:
“Assurance provides information to those that sponsor, govern and manage a project to help them make better informed decisions which reduce the causes of project failure, promote the conditions for success and increase the chance of delivering the required outcome cost-effectively." 
In the world of project auditing, assurance and audit objectives are in-line with one another. The IIA’s definition of their assurance requirements is exactly what Pelicam offers. The same skills/services are required to support both internal audit and the transformation teams; as a result, we use the same methodology (the Pelicam Assurance Method™) whether we are performing a health check or an audit.
What can you expect from a Pelicam Project Audit?
- Independence: we only do assurance, slotting comfortably in to the consulting ‘eco-system’.
- Best-in-class Pelicam Assurance Method™: our 460-point predictive model allows us to identify potential risks, benchmark against best practice and generate any necessary remedial actions.
- Experiential: we don’t just ask ‘have the risks been reviewed and mitigated?’ but ‘have the right risks been considered?’ and 'have all risks been uncovered?'
- Supportive and collaborative: our style is open, conversational and diplomatic - we earn trust by asking open questions and sharing our thinking.
- Bottom-up approach: this supplements the usual top-down consulting method, resulting in a content-rich, concentrated action-plan.
- Flexible: our practitioners can supplement existing teams (a co-sourcing approach), or work as a separate, independent team.
- Transferrable: our project audits can be applied to any project, programme, methodology (agile, waterfall, traditional), or industry sector.
We build in-house skills and knowledge ensuring Internal Audit maintains business credibility and is considered an essential part of the governance for all transformation and change projects.
We have a lot to show for this unique approach – our success stories speak for themselves:
 Institute of Internal Auditors & National Audit Office