The price of an outsourced internal audit follows the auditor days it takes. For a company of 20 to 50 people with one office and cloud infrastructure, that is typically two to three days of fieldwork plus the report.
The factors that move the price:
- People in scope: more people means more interviews and larger samples.
- Sites: each additional location adds time, especially if it needs a visit.
- Infrastructure: a fully cloud-based setup takes less time than on-premises servers and office networks.
- Remote or on site: remote fieldwork saves travel time and cost.
- Report depth: for example, whether a full remediation plan is included.
Your industry and the number of policies you have change the price little.
When comparing offers, check the number of auditor days included, what the report contains and whether the auditors have audited for certification bodies themselves.
An in-house audit costs time instead: typically three to five days of a trained employee, the control owners' interview time, and a two-to-three-day training course if nobody is trained yet.