internal AUDIT services

Internal Audit (IA) is an independent and objective assurance and consulting activity designed to improve an organization by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. It is considered a key component of sound corporate governance and a direct channel for Boards of Directors of companies to realize the problems of their organization and to receive recommendations on how to improve them into more compliant, efficient and resilient entities. The growing importance of the function is also supported by Regulators (e.g. CySEC) that place increasing emphasis on the matter and urge regulated entities to establish and maintain solid internal audit functions separate and independent from the other functions and activities of the entity. We are here to assist you set up an effective IA function.

Internal Audit

GDPV specializes in Internal Audit services (including ICT Audits where applicable) for Regulated Entities such as Investment Firms, Investment Funds and Fund Managers, Payment Institutions and Electronic Money Institutions, CASPs, ASPs, etc. relevant to the entities' annual reporting obligations to Regulators.

Over the years we have gained significant experience in the area and we are in position to fill on an outsourcing basis the ‘control function’ of Internal Audit in Regulated Entities thus acting as the firms’ third line of defense. This is done through the performance of periodic desk-based and/or on-site Internal Audit inspections to Regulated Entities, whilst employing a risk-based approach.

Undertaking ‘Systems Audit Trail Verification’ inspections as part of the regulated firms’ activation procedures -as requested by CySEC- and provision of relevant confirmation letter/ report in accordance with CySEC's expectations.

Independent Expert Investigations

Extraordinary Internal Audit (or Independent Expert) investigations to regulated entities on the request of CySEC or other Regulators, in relation to possible violations of the Laws.

Adhoc investigations in the capacity of an Independent Expert, requested by Regulated Entities in the aftermath of corporate incidents related to anti-money laundering, complaints or disputes with customers, B2B disputes resulting in court cases, etc.

Other Assurance Services

Independent reviews of the control and compliance procedures followed by Regulated Entities and drafting of specialized reports, consultations or confirmation letters for authorities, banks, service providers, etc.

Subject matter reviews and ad-hoc assurance engagements relevant to thematic areas such corporate governance, product governance, enterprise risk and risk management, fraud and incident management, etc.

Independent assessments of the level of convergence of the regulated firms’ practices with the applicable legislation.

internal AUDIT services

Internal Audit

Independent Expert Investigations

Other Assurance Services

We value your privacy