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Internal Audit

ASCENTOR is among the top internal audit consulting firms in Romania, focused on real business issues, fast and flexible in delivery. Our consultants have a deep expertise in internal audit, risk, compliance and fraud and have worked in many industries for a large number of Romanian clients. Approximately 50% of our projects are in internal audit.

Our internal auditors have excellent technical skills including operational analysis, fraud & forensic and data analytics, and also strong communication skills that allow us to manage difficult situations.

Internal audit is not just a watchdog of activities and internal controls within an organization, it is also a business catalyst, and, if done right, can provide valuable advice to management and the board of directors. ASCENTOR can help you integrate compliance, controls and risk management activities with your vision, mission and shareholder expectations, delivering real value and performance improvement.

Our team uses advanced data analytics procedures to identify key areas at risk or suspicious transactions. By using technology, the ASCENTOR internal audit services are more efficient and business focused.

1. Internal Audit Services

Our business oriented and pragmatic internal audit approach positions us as trusted advisors to the board and audit committee:
  • Full internal audit outsourcing.  Our team will take over all responsibilities of the internal audit function. We are working as a full internal audit department. Having Ascentor as your internal auditor is a strong commitment to effective corporate governance.
  • Internal audit co-sourcing  (e.g. acting as head of internal audit or leading specific internal audit missions, whenever additional effort or expertise is required). We can also provide the role of Head of Internal Audit with an authorised financial auditor and member of CAFR.
  • Operational audits  (e.g. procurement reviews, working capital, treasury, HR, sales & marketing). We are focusing our efforts to identify business improvement opportunities and reduce inefficiencies in the core business processes.
  • Special ad-hoc audits and investigations (e.g. fraud investigations, damage calculations).
We are currently appointed as internal auditors for several high profile Romanian companies in IT, pharma, healthcare, hospitality and retail.

2. Internal Audit Advisory

We can help your internal audit department deliver real and continuous value, thus becoming a trusted business advisor to top management and the board:
  • Internal audit function set-up: you can have a fully functional internal audit department in less than 30 days.
  • Development of the internal audit department (methodology, manual, tools)
  • Trainings to internal auditors in specific matters (data analytics, fraud, writing skills, data visualisation, etc.).
  • Design and implementation of a complete internal audit framework, including policies and procedures
  •  and investigations (e.g. fraud investigations, damage calculations).

For more details regarding the internal audit standards and mandatory requirements check the professional bodies websites:
-> The Institute of Internal Auditors (“The IIA”, US) –
-> Asociatia Auditorilor Interni din Romania (“AAIR”) –