Boom time for audit services.
Ernst & Young has predicted a boom in outsourcing of internal audit services. The firm said the role of internal auditors is rapidly changing due to greater demands for corporate governance and closer ties between internal audit and business objectives. The report ‘Internal audit outsourcing’ forces driving change’ showed 40% of company directors interviewed saw the possibility of increased outsourcing of the internal audit function as more cost effective. Over 60% of respondents admit to difficulties when tackling IT and strategic areas of risk review and policy.