Outsourcing Audit Services
PAG provides Outsourcing Compliance Advisory and Vendor Audit Services with a focus on Technology Risk and Operational / Performance Risk. We provide the necessary knowledge to our clients about the Outsourcing risks and industry best practices those are typically implemented to mitigate the said risks.
Corporations, large and small are now facing significant challenges in terms of changes and operational volatility as they meet the compliance demands from Steering Committees, Internal Audit department and External Auditors. This challenge compounds even further when the outsourcing initiatives with multiple vendors are added to the mix.
To meet the challenge, the CIO/CISO/CFO/CEO’s at large companies are now looking at their vendors /service providers to demonstrate strong internal control environment and obtain assurance and relevant compliance certifications.
Many client organizations that utilize Outsourcing in their IT and Business process face a unique challenge.
They need an Auditing Partner who understands the dynamics of the Outsourcing engagement, vendor compliance metrics and reporting requirements. Further challenge is that Auditing Partner needs to carry out the on-site audits on vendor premises in various geographies on an independent basis.
PAG helps financial services clients in the US to carryout the Outsourcing / Vendor audits in US, Europe and India.
Procurement and IT management are looking at the avenues where they can best evaluate a vendor who, not only provide quality services but also support client’s audit obligations as well. To obtain the necessary assurance on the controls placed within the Outsourcing engagements, clients are now performing periodic audit of its vendors and their project operations at the off-site / off-shore locations.
PAG understands the compliance objectives within the outsourcing engagements. We have immense knowledge on Sarbanes-Oxley and SSAE 16 (SOC 1, SOC 2, SOC 3) from clients’ perspective and also from the Service Providers Perspective. We have qualified audit teams available in various geographies locally to carryout the vendor audits based on the client’s specifications and requirements.
Our clientele include large publicly trading companies in the US and Europe who engage ITO /BPO and KPO in East Europe, Philippines and India. On our client’s request we perform independent audits on the vendor operations on a consistent basis providing timely inputs back to the client management.
Given this unique knowledge dimension, PAG is well positioned to provide guidance and excellent audit and advisory services to both outsourcing vendors and client organizations.
Click below for more information on our Outsourcing Audit Services:
Client Enablement Services
Services to Vendor Organizations