INTERNAL AUDIT
SOLUTIONS
Elevating the Gold Standard.
About Us
Our Story
Internal Audit Solutions made history as the first and only firm dedicated to providing internal auditing consulting services in The Bahamas. The firm, an affiliate of The Solutions Group was recently founded by Nekeisha Smith and Otimia Pennerman who are both Certified Internal Auditors (CIAs) by the Global Institute of Internal Auditors (IIA), and a former and current President of the IIA Bahamas chapter respectively. Aside from being CIAs, the duo are also both Certified Public Accountants (CPAs) and Licensed Chartered Accountants (CAs) by the Bahamas Institute of Chartered Accountants.
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Nekeisha and Otimia recognized the cogent need for a firm specially dedicated to rendering efficient internal auditing consulting services to help clients meet strategic & regulatory expectations. The Internal Audit Guidelines by the Central Bank of Bahamas provide a significant regulatory framework for internal auditing in The Bahamas. The Guidelines provide the Central Bank’s expectations for effective internal audit functions in Supervised Financial Institutions (“SFIs”). The guidelines require SFIs to implement an internal audit function and also require an independent review of internal audit functions every five years.
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There is a need for more Certified Internal Auditors to meet the demands for efficient and effective internal auditing services. It is not only accountants that can foray into internal auditing; anyone with a Bachelor’s degree in any discipline is qualified for the CIA exam. A career change to internal auditing is a viable transition for seasoned financial services professionals with extensive banking or compliance experience looking to further develop their skillsets.
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Internal Auditing Solutions is actively recruiting and looking forward to grooming, training, and empowering more Bahamians in the internal auditing field.
Who We Are
Nekeisha Smith, CIA, CPA, CA, CAMS, serves as our Managing Director. Nekeisha is a former Risk Advisory Senior Manager at a big four accounting firm, serving clients in New York, Washington, Atlanta, Bermuda, Cayman Islands and The Bahamas in diverse industries. Nekeisha has over 23 years of professional experience including internal audit setup, internal audit coaching, internal audit transformation, external quality assessments, corporate governance, enterprise risk management, risk remediation, internal control framework assessments, internal and external audit projects.
Otimia Pennerman, CIA, CPA, CA serves as our Internal Audit Director. Otimia has over 15 years of professional experience serving 6 years in a big four firm arising to manager level and 6 years as Assistant Vice President of Internal Audit at a locally listed public financial services company. Otimia’s professional activities include internal and external audit reviews, internal audit self-assessments, development of formal policy and procedural manuals, risk remediation and internal controls implementation projects.
Our Vision
Our vision is to “Elevate the GOLD Standard”. We advocate for adherence to the Global Internal Audit Standards as prescribed by The Global Institute of Internal Auditors for the practice of internal auditing. We promote continuous improvement toward best practices within corporate governance, risk management, compliance, and internal controls at the organizations we serve.
What We Offer
Internal Audit Solutions is committed to offering efficient and top-tier internal audit services to its clientele. We also assist internal audit departments with transformation initiatives to improve their alignment with the IPPF.
Risk-Based Internal Audit Coaching
A guided approach to the internal audit risk assessment process and risk-based audit planning and execution.
Internal Audit Transformation Planning
A readiness and needs assessment of the internal audit function, with action steps required to align with IIA’s Global Internal Audit Standards.
Internal Audit Outsourcing
A full systematic, robust, risk-based and tailor-made approach to evaluate and improve the effectiveness of risk management, control, and governance processes across strategic, operational, financial, and compliance areas.
Internal Audit Teaming
Provision of interim, specialty, or supplemental internal audit staff resources to internal audit functions.
Internal Audit External Quality Assurance Reviews
A formal evaluation of an internal audit function’s conformance with the IIA’s IPPF standards.
Internal Audit Setup
Assistance with establishing a new internal audit function including the development of an internal audit charter, job descriptions, methodology, policies and procedures and internal audit engagement management tools.
Why Us?
Our unique strategic approach incorporates knowledge sharing, coaching, and training tools to equip management and business process owners to strengthen their first line of defense role by proactively self-assessing, improving, and monitoring risk and controls within the business.
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We believe in a risk based approach to internal auditing that focuses the limited internal audit financial, time and human resources to the risks that matter most while balancing stakeholders’ and regulatory expectations.
Contact Us
Our Address:
Windsor Field Road
Company Email:
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Our Email:
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Our Phone No.:
242-677-4889