Consulting and Advisory

Two people looking at a graph on an internal audit

The Public Sector Internal Audit Standards for the NHS enable internal audit to provide an independent and objective consultancy service specifically to support management in improving the organisations risk management, control and governance.

These consulting and advisory services can take a variety of forms, which may include:

targeted advice and assistance to management and the board;
reviews focussed on finding solutions in specific problem areas;
helping organisations improve performance and secure value for money in the use of resources;
attendance and facilitation at workshops and committee meetings;
provision of guidance and advice on the design of controls;
reviewing new or updated operational or financial control procedures;
critical friend role on the development of governance, risk management and assurance arrangements.

In addition to servicing the needs of individual organisations, a significant proportion of consulting and advisory services provided by internal audit will be directed towards expert advice and guidance on national policy developments, major projects, and systems developments for the collective benefit of NHS Wales.

Individual organisations may commission additional consulting and advisory services on a discretionary basis according to local demands and needs. If there is something we can help you with then please make direct contact with your nominated audit lead.

FAQs

What are the Public Sector Internal Audit Standards for NHS Wales?

The Public Sector Internal Audit Standards (PSIAS) are mandatory for all NHS Wales organisations and are issued by the Welsh Government who are the standard setter for NHS Wales.

The standards are based on the mandatory elements of the International Professional Practices Framework (IPPF) of the Global Institute of Internal Auditors (IIA). The PSIAS define the nature of internal auditing across the UK public sector setting basic principles and a framework that provides value to all NHS Wales organisations.

Further details can be found here: http://www.wales.nhs.uk/governance-emanual/internal-audit/

What is an Internal Audit plan?

In providing independent assurance that all NHS Wales organisations’ risk management, governance and internal control processes are operating effectively, we carry this out by developing a risk based annual internal audit plan for each organisation.

The plan details all the audit reviews to be undertaken in the coming financial year. In compiling the plan, the Head of Internal Audit meets with Executive Directors and Senior Managers in the organisation along with Independent Members of the Audit Committee, which is a Sub-Committee of the Board that oversees Internal Audit.

The purpose of these meetings is to identify areas where the organisation faces the most risk.

The Head of Internal Audit will review the outcome of each meeting along with the corporate risk register, Board and Sub-Committee meetings to gain further awareness of new developments/strategies which may expose the organisation to risk.

The draft plan is then shared with the Board Secretary and then submitted to the Audit Committee for approval.

Where do our audit reports go?

For each review in the audit plan, unless otherwise agreed with management, we will issue an audit report which includes an assurance opinion on how effective the internal controls are in the process/service/function.

We issue a draft report to our main key contact(s) to discuss and review for factual accuracy. We then obtain management responses to recommendations, if any, that we have made. Once the management responses have been accepted as addressing the risks and the timescales are acceptable, we seek Executive Director Approval to issue the report as final.

A copy or summary of each report is then presented at the next Audit Committee meeting.

Get in Touch

If you have a query for our Audit and Assurance Services. Please contact us below: