Internal Audit
Independent third-line assurance
Davies provides a fully outsourced internal audit service alongside tailored solutions to meet the specific needs of insurers, brokers, and MGAs. Our expert teams evaluate governance, risk management, and operational controls to deliver actionable insights that strengthen compliance frameworks, improve efficiency, and ensure alignment with regulatory requirements.
Our expertise in internal audit
At Davies, we pride ourselves on delivering independent, risk-based internal audits that help organisations identify gaps and improve their processes. Our service combines technical knowledge with practical insights, ensuring every audit adds measurable value. Whether you’re focused on governance, risk management, or operational controls, we partner with you to enhance your business integrity and resilience.
Comprehensive internal audit services
Governance audits
We evaluate the effectiveness of your governance framework, providing insights to improve oversight, accountability, and decision-making processes. By aligning with industry standards, we ensure your governance structures support your strategic goals.
What we offer:
- Reviews of governance frameworks and board oversight practices.
- Recommendations to strengthen governance processes.
- Assurance of alignment with FCA, PRA, and Lloyd’s standards, including audits for regulatory bodies such as the Financial Services and Markets Authority (Belgium) and the Monetary Authority of Singapore.
Operational audits
Our operational audits focus on evaluating the efficiency and effectiveness of processes across your organisation. We help you identify areas of improvement and implement best practices to enhance productivity and compliance.
What we offer:
- End-to-end process evaluations.
- Root cause analysis for operational inefficiencies.
- Benchmarking against industry standards.
Risk-based audits
We design and execute risk-based audits that prioritise your organisation’s unique risks. This ensures a targeted approach to mitigating vulnerabilities and enhancing operational resilience.
What we offer:
- Risk identification and prioritisation.
- Compliance testing and reporting.
- Risk mitigation strategies.
Key benefits of Davies’ internal audit services
Full outsourcing capability: A comprehensive solution for all internal audit needs, reducing the burden on internal resources.
Independent assurance: Objective evaluation to identify gaps and mitigate risks.
Regulatory alignment: Audits designed to meet FCA, PRA, and Lloyd’s compliance standards.
Actionable insights: Practical recommendations that drive measurable improvements.
Efficiency gains: Enhanced processes and controls for improved operational outcomes.
Global expertise: In-depth knowledge of insurance, broking, and MGA operations worldwide.
