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Socorro Partners offers various internal audit services tailored to align with your organization’s goals and address gaps in process, people, and technology. Our team of seasoned internal audit professionals drives value creation by enhancing internal audit processes, improving risk mitigation, adopting a business and technology-integrated mindset, and fostering seamless collaboration with your internal audit teams.
Socorro Partners can assist your organization in maintaining the continuity and effectiveness of the internal audit function in an organization during periods of transition or change as you identify a candidate to fill the audit leadership role.
Our team members have experience serving in various leadership roles within the internal audit function – providing the skillsets required to oversee the internal audit function in managing the execution of the audit plan to meet its strategic objectives while offering a fresh perspective to identify areas of improvement in the organization’s audit process.
Our outsourcing services offer organizations a strategic partnership where our team manages and performs an internal audit plan as directed by the Audit Committee and senior leadership. This approach can reduce costs and allows companies to focus on their core competencies. As part of our co-sourcing services, our team works collaboratively within the internal audit team, supplementing the existing internal audit team with additional resources and expertise. This method offers flexibility and control, enabling businesses to scale services up or down according to their needs.
Regulatory changes, rapidly evolving technologies, and economic challenges, require organizations to be both agile and forward-looking in managing emerging risks. Internal audit functions should challenge their audit plans to assess whether planned operational audits go beyond addressing financial risks to address emerging risks.
Socorro Partners can assist internal audit teams in developing a proactive, risk-based audit approach that incorporates operational audits to align with the organization's strategic objectives and serve as a partner throughout the execution of the internal audit plan.
Our team has significant experience successfully working with global and multi-location organizations and internal audit teams and executives.
We offer customized services to support internal audit functions in driving value for organizations.
We are a trusted partner that seamlessly integrates with client teams to foster a collaborative environment.
We create scalable and sustainable processes, enabling long-term success.
Building a resilient business
Internal audit enhances organizational resilience by evaluating and improving the effectiveness of risk management, control, and governance processes. They identify vulnerabilities, ensure readiness for disruptive events, and verify that recovery plans are robust. This proactive approach helps organizations anticipate risks, adapt quickly, and maintain operational continuity.
Solutions
Cloud computing, artificial intelligence, machine learning
Internal audit can assist management in understanding the risks, assessing the sufficiency of existing controls and governance structures, and help stakeholders in addressing gaps related to utilizing disruptive technologies. Helping management develop an understanding of the impacts of disruptive technologies, update audit frameworks, and ensure strategic alignment allows organizations to manage risks and leverage opportunities from technological innovations.
Solutions
Regulatory compliance
The latest regulatory developments on ESG increase reporting requirements, elevating risk over the completeness and accuracy of data. Internal audit can assist in assessing and ensuring the integrity of ESG reporting, verifying compliance with relevant regulations, and evaluating the effectiveness of ESG strategies and controls fostering transparency and accountability within the organization.
Solutions
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