AI Consulting Services
Internal Audit
Independent, ongoing assurance that your AI governance controls are actually working — not just documented.
External certification audits happen once a year. Your AI systems change every week. Veloraa helps you build, staff, or run an internal audit function that continuously evaluates AI risk and controls, and gives your board and audit committee objective assurance between certification cycles.
Delivery Models
In-House Build · Co-Sourced · Fully Outsourced
Standards Alignment
IIA Global Internal Audit Standards
Cadence
Continuous — not a once-a-year event
Reports To
Audit Committee & Board
6
Internal Audit Services
6
Step Audit Cycle
3
Delivery Models
100%
Independent of Management
Assurance That Lives Inside Your Organization
Internal audit is an independent, ongoing assurance function — distinct from the periodic, third-party certification audits covered by ISO/IEC 42001 or SOC 2. It operates on a risk-based plan, tests whether AI governance controls are actually working in practice, and reports its findings directly to the audit committee and board, independent of the teams building and operating the AI systems themselves.
Independent
Reports to the audit committee, not the teams it reviews.
Continuous
Operates year-round, not just at certification time.
Risk-Based
Focuses effort where AI risk is highest, not evenly everywhere.
Complementary
Works alongside, not instead of, external certification audits.
OUR SERVICES
Internal Audit Services
Whether you need to build your first AI internal audit capability or extend an existing internal audit function to cover AI, we support every stage.
Internal Audit Function Design
Charter, scope, staffing model, and reporting lines for a new or expanded AI internal audit function.
Risk-Based Audit Planning
An AI audit universe and annual audit plan prioritized by risk, not by convenience.
Controls Testing & Assurance
Fieldwork that verifies AI governance controls operate as designed, not just as documented.
Governance Maturity Assessments
Benchmark your AI governance program's maturity and track improvement over time.
Co-Sourced & Outsourced Internal Audit
Extend your existing internal audit team, or let Veloraa run the AI internal audit function end to end.
Audit Committee & Board Reporting
Clear, decision-ready reporting that gives your board genuine assurance, not just activity metrics.
HOW IT WORKS
The Internal Audit Cycle
Audit Universe
Map every AI system and process that could be audited.
Risk Assessment
Score and rank that universe by AI risk exposure.
Annual Audit Plan
Agree coverage and secure audit committee approval.
Engagement Scoping
Set objectives, criteria and boundaries for each audit.
Fieldwork & Testing
Test whether controls operate, not merely whether they exist.
Evidence Evaluation
Weigh the evidence gathered against the stated audit criteria.
Findings & Reporting
Document issues, root causes and practical recommendations.
Management Response
Agree owners, corrective actions and target dates.
Board Reporting
Present assurance and open risk to the audit committee.
Remediation Tracking
Follow every action through to verified closure.
GROUNDED IN STANDARDS
Aligned With Recognized Audit Practice
Our internal audit methodology is anchored in the IIA’s Global Internal Audit Standards, and integrates directly with the internal audit requirements already built into ISO/IEC 42001 and ISO/IEC 27001.
THE PAYOFF
Business Benefits
Board-Level Assurance
Earlier Risk Detection
Certification Readiness
Stronger Governance Culture
Start Now
Get Assurance Between Audit Cycles
Whether you need to build an internal audit function from scratch or extend an existing one to cover AI, Veloraa can help.
Frequently Asked Questions
How is internal audit different from external certification audits?
External audits, such as ISO/IEC 42001 certification audits or SOC 2 examinations, are conducted by independent third parties on a periodic basis. Internal audit is an ongoing, in-house assurance function that continuously evaluates whether AI governance controls are designed and operating effectively.
Can Veloraa run our internal audit function for us?
Who does the internal audit function report to?
What standards does Veloraa's internal audit methodology follow?
Our methodology is anchored in the IIA’s Global Internal Audit Standards, and integrates with the internal audit requirements already present in ISO/IEC 42001 and ISO/IEC 27001.
We already have a general internal audit function — do we need a separate one for AI?
Usually not a separate function — most organizations extend their existing internal audit team’s scope and skills to cover AI systems. We can help design that extension or provide specialist AI audit resources to co-source with your existing team.
How often does the internal audit function report to the board?
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