Mission - Pembles Business Services

Mission and Standards

” Internal audit over the years has moved from the compliance monitoring function towards a more specialised consultancy service. Pembles Business Services intend to embrace this change in direction by providing specialised services that the client will consider to add more value to the management of their organisation. “

Cheryl Howard – Company Director

The Mission

To develop a successful and profitable internal audit service provider based on a dynamic and proactive audit service, providing a wide variety of professional audit and consultancy services for organisations across public and private sectors. Providing independent, high quality services using skilled and experienced staff, Pembles Business Services will offer general internal audit review and management services along with an array of specialised reviews including risk management, data analysis, cyber security and fire risk assessments.

To compete against larger established audit firms by providing quality, local services that are at a more cost effective price to our clients. With knowledge and experience of the environment in the UK & Europe, Pembles Business Services strive to provide a valuable service to clients in this region. The friendly and approachable internal audit team will provide a personalised service to all clients, meeting audit requirements of all.

Standards

Pembles personnel comply with the updated Internal Audit Code of Practice to ensure client confidence in the integrity of our work. Effective from January 2025, this new code aims to elevate the effectiveness and impact of internal audit functions within organisations across the financial services, private, and third sectors in the UK and Ireland. They are regarded as a benchmark of good practice against which organisations should assess their internal audit function.

“The Standards guide the worldwide professional practice of internal auditing, are principle-based, and serve as a basis for evaluating and elevating the quality of the internal audit function. At the heart of the Standards are 15 guiding principles that enable effective internal auditing. Each principle is supported by standards that contain requirements, considerations for implementation, and examples of evidence of conformance. Together, these elements help internal auditors achieve the principles and fulfill the Purpose of Internal Auditing.” Institute of Internal Auditors, 2024.

Domain I: Purpose of Internal Auditing

Internal auditing strengthens the organization’s ability to create, protect, and sustain value by providing the
board and management with independent, risk-based, and objective assurance, advice, insight, and foresight.

Domain II: Ethics and Professionalism

Principle 1 Demonstrate Integrity
Internal auditors demonstrate integrity in their work and behaviour.

Principle 2 Maintain Objectivity
Internal auditors maintain an impartial and unbiased attitude when performing internal audit services and making decisions.

Principle 3 Demonstrate Competency
Internal auditors apply the knowledge, skills, and abilities to fulfill their roles and responsibilities successfully.

Principle 4 Exercise Due Professional Care
Internal auditors apply due professional care in planning and performing internal audit services.

Principle 5 Maintain Confidentiality
Internal auditors use and protect information appropriately.

Domain III: Governing the Internal Audit Function

Principle 6 Authorized by the Board
The board establishes, approves, and supports the mandate of the internal audit function.

Principle 7 Positioned Independently
The board establishes and protects the internal audit function’s independence and qualifications.

Principle 8 Overseen by the Board
The board oversees the internal audit function to ensure the function’s effectiveness.

Domain IV: Managing the Internal Audit Function

Principle 9 Plan Strategically
The chief audit executive plans strategically to position the internal audit function to fulfill its mandate and achieve long-term success.

Principle 10 Manage Resources
The chief audit executive manages resources to implement the internal audit function’s strategy and achieve its plan and mandate.

Principle 11 Communicate Effectively
The chief audit executive guides the internal audit function to communicate effectively with its stakeholders.

Principle 12 Enhance Quality
The chief audit executive is responsible for the internal audit function’s conformance with the Global Internal Audit Standards and continuous performance improvement.

Domain V: Performing Internal Audit Services

Principle 13 Plan Engagements Effectively
Internal auditors plan each engagement using a systematic, disciplined approach.

Principle 14 Conduct Engagement Work
Internal auditors implement the engagement work program to achieve the engagement objectives.

Principle 15 Communicate Engagement Results and Monitor Action Plans
Internal auditors communicate the engagement results to the appropriate parties and monitor management’s progress toward the implementation of recommendations or action plans.

Contact Info

To get in touch and find out more please contact: enquiries@pembles.co.uk