What you receive after the assessment

Assessment summary · 60 minutes

Example SRL – subsidiary of an Austrian group, distribution

Topic: the internal audit requirement after the first statutory audit year.

What we found

• The 2025 financial statements are subject to statutory audit, so the internal audit requirement applies from the same year.
• Group internal audit covered procurement and IT in 2025, but there is no annual plan approved by Romanian management.
• Group reports go to headquarters in Vienna, not to the subsidiary's director.

Risks, in order of priority

1. High: no locally approved plan – exposure to a penalty in an inspection.
2. Medium: inventory at the regional warehouse has not been audited in the last three years.
3. Low: the group's 2024 recommendations have no local owner.

Recommended next steps

1. A charter and a plan for the rest of 2026 (an inventory engagement before the 31 December count), then the 2027 annual plan, approved by the director and aligned with the group plan (2–⁠3 weeks).
2. Follow-up of the inventory engagement's recommendations in the first quarter of 2027, before the statutory audit.
3. A recommendations log, reported quarterly to local management and the group.

The summary is not an audit report. A proposal for services, if you want one, follows separately, within one working day of receiving the information we need.