Hi Urim,

From the industry wide competencies, I would say risk assessment and management are important entrepreneurial competencies that can be used as risk control measures.

Regards

Dear Urim,

Outsourcing is a risk factor that can be considered directly related to new and emerging risks (eg due to increase increasing tendency to outsource maintenance services to small companies). In this regard ,the European Agency for Safety and Health at Work (EU-OSHA) has conducted several studies. Among them, I recommend the following:

Promoting occupational safety and health through the supply chain:

https://osha.europa.eu/en/tools-and-publications/publications/literature_reviews/promoting-occupational-safety-and-health-through-the-supply-chain

Website on EU-OSHA, you can find additional information very interesting. You can also find additional information in my profile RG, on new and emerging risk in manufacturing environments.

Regards

https://osha.europa.eu/en/tools-and-publications/publications/literature_reviews/promoting-occupational-safety-and-health-through-the-supply-chain

Hello,

Internal audit can be out sourced as it becomes cost effective, also audit team can share their vast knowledge and flair of imagination to better strengthen the internal control and take the company to a special zenith.

Hi

There is a range of issues here.

• IPPF compliance and how to secure it
• The scale of the internal audit task, both in terms of contract size and contract diversity
• The strength and quality on the supply side, e.g. what providers exist, how good are they, etc.?
• The expectations of powerful stakeholders, e.g. are there funders that expect an internal audit service to exist and do they have a say in the choice of provider?
• How the company will ensure the quality and effectiveness of internal audit provision 

When looking at internal audit, it is always useful to focus on the three foci from the IPPF - internal control, risk and corporate governance.

Regards

From experience, I can tell you that outsourcing the internal audit practice is not very different from an inhouse internal audit function. The only significant issue with outsourcing the function is the level of institutional knowledge an internal team would have and the added value that brings to the effectiveness of the audit function. Of course, if you are using internal auditors for multiple years, they can gain similar institutional knowledge. 

The biggest benefit of outsourcing the function is the independence.