Purpose: Build and execute a risk‑based internal audit function aligned with professional standards, delivering independent assurance and actionable insights.

Overview: Ascension Business Advisory designs and performs internal audits grounded in the appropriate professional frameworks, including: 

• Institute of Internal Auditors (IIA) International Professional Practices Framework (IPPF) and Global Internal Audit Standards

• AICPA Statement on Standards for Consulting Services (SSCS No. 1)

• GAO Government Auditing Standards (GAGAS)

• COSO Internal Control Framework

• GAO Standards for Internal Control in the Federal Government

• Other professional and regulatory frameworks, as applicable. 

Services Offered:

• Development of risk‑based internal audit methodology

• Creation of annual audit plans aligned with organizational risk profiles

• Operational, financial, performance, and compliance audits

• Internal controls testing and documentation

• Audit fieldwork execution and evidence gathering

• Audit reporting with clear, prioritized recommendations

• Follow‑up and remediation tracking

• Audit program setup for organizations without an existing function

• Alignment with IIA Standards and GAGAS (as applicable)

Ideal Clients

• Organizations building an internal audit function for the first time

• Entities needing risk‑based audit planning

• Public sector agencies, utilities, nonprofits, and mid‑market companies

• Organizations preparing for external audits or regulatory reviews

• Leadership teams seeking independent assurance and structured oversight

• Organizations looking for an outsource or co-source partner

Deliverables

• Risk‑based audit plan

• Audit methodology and templates

• Workpapers and documentation

• Audit reports with risk ratings

• Remediation tracking tools

• Audit program framework aligned with standards