DORA consultancy - helping financial institutes across the UK and Europe.

Rahul Pandit, Red and Blue


Audit services


Audit , in simple terms, is about review of existing practices and procedures to ensure compliance as well as flagging the areas of non-compliance and making recommendations on improvements.

Internal audit has to be independent of the financial entity’s management in their work. Auditor’s prime responsibility is to review the quality and effectiveness of the controls within the financial entity to manage and mitigate risk and protect the entity’s assets.
There are multiple audit areas, such as Operational risks, Procedural efficiency, Effectiveness of systems, Regulatory compliance, Fraud management, Health and safety compliance and Environmental compliance, as well as IT general controls that organisations need to assess periodically.
Determining whether a particular internal control system is effective is a judgement resulting from an assessment of whether the five components – control environment, risk assessment, control activities, information and communication, and monitoring – are present and efficiently functioning.

Do you fully understand DORA requirements and RTSs?
What are the steps your organisation is currently taking to ensure that you will be fully compliant with DORA by January 2025?
Is your review and evaluation of current procedures, practices, and tools robust enough?
Are there any changes that you urgently require to implement to be on top of your game?

These questions for many would require an independent assessment and comprehensive audit of the organisation's obligations under DORA.
The audit measures organisational strengths and weaknesses against its procedures, practices and actual regulatory requirements.


We offer the following audit scope:
1. Dedicated theme audits, focusing on a specific area.
  • Risk management, including third-party
  • Resilience testing
  • Incident management
  • Asset management
  • Contract management
  • Reporting and notification process
  • Awareness and training management
2. End-to-end review of all areas above.
3. Follow-up review, typically 3 months after the audit.
4. We conduct external audits on your behalf, or as part of the pooled services with your third-party suppliers.
5. We provide independent audit reports made on behalf of the ICT third-party service provider.

Each audit's deliverable includes detailed working papers and reports with opinions and suggested actions to address the findings.

Please let us know how we can support your organisation with internal or external audit services.

Would you like to talk about DORA compliance? Contact us.