Audit Group provides advisory services that sit alongside our core audit work. We use the insight we gain from audit engagements to help organisations strengthen internal controls, manage risk and improve their financial reporting. This isn’t generic consulting – it’s practical, independent advice from people who understand your numbers.
What we advise on
Our advisory service covers areas where audit and assurance experience adds the most value:
- Internal audits – We design and carry out internal audit programmes for organisations that don’t have their own internal audit function. This includes risk-based audit plans, testing of key controls, and reporting to the board or audit committee. Internal audit services are particularly valuable for organisations approaching the size where regulatory or governance requirements make them necessary.
- Risk management – Identifying, assessing and mitigating financial and operational risk. We help organisations build risk registers, design control frameworks and embed risk management into day-to-day decision-making. Good risk management means fewer surprises at year-end.
- Governance reviews – Assessing whether your organisation’s governance structures are fit for purpose. We review board effectiveness, committee terms of reference, delegated authorities and regulatory compliance. Particularly relevant for charities, housing associations and other regulated bodies.
- Due diligence – Financial due diligence for acquisitions, mergers and investments. We review target company accounts, identify accounting risks, check the quality of earnings and flag issues that could affect the deal price.
- Systems and processes – Reviewing accounting systems, controls over financial statements and operational processes. We identify weaknesses and recommend practical solutions. Our audit experience means we know which controls actually matter.
- Regulatory compliance – Helping organisations meet the regulatory and statutory requirements of their sector. From FCA reporting to charity governance codes, we provide the assurance and insight that regulators expect.
Internal audit services
Many organisations need internal audits but don’t have the scale to justify a full-time internal audit team. We provide outsourced and co-sourced internal audit services – designing the plan, carrying out the fieldwork, and reporting the results to your audit committee or board.
Our approach to internal audits is risk-based. We focus on the areas that matter most to your organisation, not a generic checklist. Each internal audit engagement produces clear findings with practical recommendations – not pages of framework theory. We keep the trust of management by being direct about what we find while remaining constructive about how to fix it.
For organisations with existing internal audit functions, we can provide specialist support on complex areas or quality assurance reviews of the function itself.
AI and data analytics
We use AI and data analytics tools to improve the quality of our advisory work. For internal audits of transaction-heavy organisations, AI-driven analysis lets us test entire populations rather than sampling. We also consult with clients on the strategic implications of deploying AI in their own operations – making sure internal controls keep pace with the technology, and that organisations remain compliant with evolving regulation.
How advisory and audit work together
There’s a natural link between audit and advisory work. The insight we gain from auditing financial statements – understanding where controls are weak, where risk concentrates, where reporting could be clearer – feeds directly into the advice we give.
We’re careful about independence. Where we provide advisory services to an audit client, we ensure that the work doesn’t compromise our statutory audit opinion. Auditor independence rules under the ICAEW Ethical Standard are clear on what’s permitted, and we follow them strictly. For organisations where independence is a concern, we can provide the advisory service through a separate engagement team.
Who uses our advisory services?
Our advisory work spans a range of organisations and sectors:
- Growing businesses preparing for their first audit or approaching regulatory thresholds
- Charities and not-for-profits that need assurance over governance and controls
- Private equity-backed companies with stakeholder reporting requirements
- Organisations going through change – acquisitions, restructuring, system implementations
Why choose Audit Group?
- Audit-informed advisory – Our advice is grounded in real audit experience, not just consulting frameworks
- ICAEW-registered – Meeting the professional standards that regulators and stakeholders expect
- Fixed fees – Agreed before the engagement starts
- Practical solutions – We focus on what will actually make a difference to your organisation
If you need internal audit services, a governance review, or advisory support on a specific issue, get in touch.
