Optimizing Your
Internal Audit
Whether you are looking to establish an internal audit function, attain or maintain compliance with Sarbanes-Oxley Section 404 (SOX 404) or Model Audit Rule (MAR), mitigate fraud risk, or perform a general assessment of internal controls, you will benefit from Johnson Lambert’s engagement philosophy and approach. We deliver efficient, cost-effective services that are powered by our deep understanding of the industries we serve yet customized to each specific organization.
Internal audit can be both an essential compliance function and provide valuable insights to assist in achieving organizational objectives. Our industry focus allows you to challenge your risk assessment process, provide best practices for compliance, and focus on key areas of the business with our disciplined project management and specialized skills. With in-depth organizational insights, we execute high-value projects that have actionable deliverables for process optimization.
Are you ready to elevate your Internal Audit function?
Tested
Methodology
Combining our internal audit methodology with deep industry experience, technologies, and tools, our internal audit team is poised to help improve your processes, potentially lower your overhead costs, and give time back to your teams. Our methodology is powered by the following:
Training
At Johnson Lambert, there is continuous training at all levels, and we believe in an approach that educates our clients along the way as well.
Risk + Control Matrices
Specific matrices have been developed and tailored based on our deep industry knowledge and expertise.
Audit Programs
Ours are designed for efficiently executed projects. We continually challenge our programs to ensure the highest quality project deliverables.
Testing Templates
We follow the IIA Standards of Internal Audit testing. Our test procedures are tailored to critical control attributes.
Analytics Workflows
Our team uses a variety of data analytics, visualization and preparation tools to perform full population reviews and improve the quality of the audit by identifying patterns and trends that validate our conclusions.
Reporting
Stakeholders receive clear and concise reporting, facilitating action to improve processes and risk mitigation.
Quality Control
Cornerstone to all Johnson Lambert engagements, our dedicated team ensures we meet and often exceed firm and professional requirements.
Ways to Leverage
Internal Audit
Utilize internal audit’s organizational wide perspective to improve financial and operational processes. Internal audit can provide insight into the most complex processes and help the organization anticipate and mitigate risks.
Tackle organizational challenges like the use of analytics, implementing continuous monitoring, and regulatory changes with our team of highly trained auditors and advisors.
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Plan Development and Execution
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Process Assessment and Rationalization
03
Education and Training
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Remediation Support
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Supplement Specialized, Technical Skills
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Support for Corporate Responsibility Efforts, including ESG and DEI
Teaming
Model Options
Outsourced Model
Johnson Lambert provides an internal audit function based on your organization's complexity and needs. Our team can perform all steps of the internal audit process.
Co-Sourced Model
Partner with Johnson Lambert to add specialized skills like reinsurance expertise, IT security or investment accounting to execute your internal audit plan. You can quickly and efficiently scale your internal audit capabilities to meet internal and external demands.
Consulting Model
Our team of industry experts advise on internal audit processes, meeting regulatory requirements and executing consulting engagements on behalf of internal audit. Teamed with our clients, we explore solutions and to offer forward-looking ideas during times of change or growth.
Stay Updated on
What’s Happening
December 2021
The Internal Revenue Service (“IRS”) issued Rev. Proc. 2021-54 on December 13, 2021, which contains the new discount factors for the 2021 tax year. These factors were determined using the applicable interest rate for 2021 under code section 846(c) of 2.84%, compounded semiannually. Linked below is a table that summarizes […]
Focused
Experience
We proudly add value to our clients by specializing in providing these services to your industry, working with various entities similar in operations, size, or areas of opportunity.
Insurance
Not only has Johnson Lambert been working with insurance entities since our inception over 35 years ago, but our depth and breadth of knowledge and understanding of the industry, the requirements and regulations placed on insurers, and the quickly-evolving business environment ensures that our plan and approach to delivering your internal audit services is focused and delivers value. As the industry evolves, our team can assist in deploying data analytics, agile processes, or ESG/DEI/CSR monitoring and reporting. Furthermore, with Johnson Lambert’s Regulatory Services team, we have additional insights into the regulators’ expectations, which enables both streamlining of efforts and ensuring the appropriate level of comprehensiveness.
Nonprofit
With increasingly complex operating environments, external pressures, and more stakeholder requests for compliance and operational insights, we have worked with many nonprofit and higher education organizations on specialized internal audit projects or on an ongoing basis as an outsourced internal auditor. Our understanding of the tax-exempt organization environment coupled with our proven internal audit methodology and tools are assets to our nonprofit internal audit clients.
Get the Right Guidance in a Rapidly Evolving Business Environment.
