Internal Audit
An internal audit is a thorough examination of an organization's processes, systems, and controls, conducted by our team of experienced internal auditors to provide valuable insights and recommendations for improvement. The primary purpose of an internal audit is to assess and improve the effectiveness of risk management, internal controls, and governance processes.
Internal Audit is necessary:
To ensure that an organization's operations comply with applicable laws, regulations, and policies.- To help identify potential vulnerabilities in processes, systems, and controls, enabling timely mitigation and safeguarding of organizational assets.
- To prevent Fraud and Misconduct within an organization
Steps followed to conduct an Internal Audit:
- Define objectives, scope, and audit criteria.
- Identify and assess risks associated with the audited areas.
- Document findings and evidence.
- Evaluate the adequacy and effectiveness of internal controls.
- Prepare clear and concise audit reports.
