Internal Audit

Benefits of Internal Auditing

  1. Strong internal controls
    Internal audits evaluate your internal controls, which comprise actions, systems, and processes (including monitoring) to assure that those controls are well designed and implemented and that they work as intended, no matter who serves in which role.

  2. Efficiency
    Internal audits spot redundancies in your business practices, procedure, and governance processes; and develop recommendations for streamlining, saving time and money.

  3. Security
    Internal audits scrutinize your cybersecurity environment – for example, identifying all your digital devices, and examining whether those assets are secured per your policies. These audits also look for vulnerabilities in your digital systems and networks and advice on closing gaps.

  4. Integrity
    Internal audits provide assurance of process integrity – that is, that systems work the way they were intended to work, and the way that management promises those systems work. These audits can identify risks of human error or other system failures, such as complicated software that might crash at critical moments.

  5. Reduced risk
    Internal audits consider all the identified risks to your enterprise and analyze whether your risk mitigation measures are working as they should. Where those measures aren’t, audit reports will tell you what you can do to resolve the issue.

  6. Improved Compliance
    Internal audits check the laws, regulations, and industry standards with which your organization needs to comply, and then assess whether you are, in fact, compliant. Where you miss the mark, auditors recommend how to remediate the problem.

How we can help

The capacity of any organization to hire in-house resources for all core and non-core functions depend on the size of the revenue and the net profit they earn for the shareholders. In circumstances where the resources do not allow to hire a professionally qualified and competent internal audit it is always advisable to outsource this function, like one would do for any other no-core function.
Our Internal Audit Experts can work with you and develop a three years internal audit plan for your organization and get your approval. Given their expertise they can achieve the desired objectives of each of the planned audits with much lesser cost and high degree of reliability.
OFFER INSIGHT AND ADVICE – Our internal auditors’ expertise, knowledge of controls, and broad perspective of the organization make us ideal candidates for consulting on a project to ensure that risks are considered and controls are built into a process on the front-end (e.g., mergers and acquisitions, new technology implementation). We offer insight regarding strategic risks and advice, though management must maintain ultimate responsibility for the processes in their area.
EVALUATE RISKS – Risks are everywhere (natural disasters, loss of key suppliers, reputation damage, inefficient operations, fraud, lawsuits, policy violations, regulatory compliance, theft, etc.). We assess the significance of the organization’s many risks and the effectiveness of risk management efforts, communicate these to management and the board, and develop recommendations to improve risk management.
ASSESS CONTROLS – We evaluate control efficiency and effectiveness and provide management and the board assurance that the controls in place are adequate to respond to the risks that threaten the organization.
ENSURE ACCURACY – We help ensure financial statement accuracy by examining the reliability and integrity of financial and operational information.
IMPROVE OPERATIONS – After gaining a solid understanding of the organization’s objectives, we examine operations to determine whether they are efficient and effective.
Fractional/ Part Time/ Interim CFO, CEO and or General Manager You are a small or medium size enterprise and presently in a situation where you feel absence of a qualified and experience professional to provide leadership as CFO, COO or CEO to take you through a short period of growth, change or challenges and the organization’s resources could not afford to hire a similar level professional on a permanent basis.
We have qualified and experienced professionals who have led their organizations to outstanding achievements as General Managers, CFO of COO in diversified industries and who could help your organizations in ways needed.
These part-time executives bring their A-game, managing tasks and making decisions just like their full-time counterparts, but they work only a fraction of the time and cost.
Hiring a Fractional CEO, CFO, or COO is like having your cake and eating it too, especially when you’re tight on budget but still need expert guidance. Whether it’s steering the company’s vision as a CEO, managing finances as a CFO, or handling operations as a COO, these pros get the job done efficiently, often juggling roles at multiple companies. They come in, fix things up, and leave your business looking spruced up, all without you having to pay for a full-time superhero salary.
The beauty of these fractional roles is they allow companies to access high-level expertise without the full-time commitment. We can provide seasoned leadership to drive growth, manage operations, or steer financial health of your business .