Achieve Business Excellence through Internal Audit, Risk Management & Improvement Services
Our Risk Advisory and Internal Audit services offer comprehensive solutions to help businesses identify, assess, and mitigate risks effectively. We understand the importance of robust risk management and internal controls in safeguarding assets, ensuring compliance, and enhancing operational efficiency. Our team of experienced professionals provides tailored risk advisory and internal audit services designed to address the unique needs and challenges of your organization. We not only help you manage your risks to ensure sustainable growth but also provide you with tangible improvement opportunities to help improve your business. Our service includes:
Risk Assessment and Heat map Reporting
Internal Audit Plan and Management / Internal Audits
Internal Controls Monitoring - COSO and SOX compliance
Stock Audits
Bank and Concurrent Audits
Cost Optimization Review
Retail Store Audits
Fixed Assets Verification and tagging
Investigations
Information system Audit
Company law compliance audits
Corporate Governance Audit
Internal Audit Maturity Assessments and P&P
Did you know...Most of the top Companies in the world outsource some of their Internal Audit work to ensure that they get the required expertise in the most cost-efficient manner possible!
Benefits:
Risk Identification and Assessment: We help identify and assess potential risks to your business, including operational, financial, and compliance risks.
Control Evaluation: Our internal audit services evaluate the effectiveness of your internal controls and processes, identifying areas for improvement.
Compliance Assurance: We ensure compliance with relevant regulations and industry standards, reducing the risk of penalties and regulatory actions.
Enhanced Decision-Making: By providing insights into key risks and controls, we empower you to make informed strategic decisions.
Process Optimization: We offer recommendations for optimizing processes and controls to mitigate risks and improve operational efficiency.
Steps/Process Involved:
Risk Assessment: We conduct a comprehensive assessment of your business operations to identify potential risks and vulnerabilities.
Control Evaluation: Our internal audit team evaluates the effectiveness of your internal controls and processes in mitigating identified risks.
Gap Analysis: We compare current practices against industry best practices and regulatory requirements to identify gaps and areas for improvement.
Recommendations and Remediation: Based on our findings, we provide recommendations for strengthening controls and processes and assist in implementing remediation plans.
Monitoring and Reporting: We provide ongoing monitoring and reporting to track the implementation of recommendations and measure the effectiveness of controls over time.
Pre-requisites:
Access to relevant documentation and records, including policies, procedures, and control documentation.
Willingness to collaborate and provide necessary information for the assessment and evaluation process.
Commitment to implementing recommendations and remediation plans.
Deliverables:
Comprehensive risk assessment reports.
Internal audit reports highlighting findings, recommendations, and remediation plans.
Implementation support for remediation activities.
Ongoing monitoring and reporting on the effectiveness of controls.
FAQ's:
How often should internal audits be conducted?
The frequency of internal audits depends on factors such as the size and complexity of the organization, industry regulations, and risk profile. Typically, internal audits are conducted annually or on a quarterly basis.
What is the difference between internal audit and external audit?
Internal audit focuses on evaluating and improving internal controls and processes within an organization, while external audit is conducted by independent auditors to provide assurance on the accuracy and reliability of financial statements.
Can you assist with regulatory compliance requirements?
Yes, our risk advisory services include assistance with regulatory compliance requirements, ensuring that your organization remains compliant with relevant regulations and industry standards.
How do you ensure objectivity and independence in internal audit engagements?
We adhere to professional standards and maintain independence and objectivity in our internal audit engagements to ensure the integrity and credibility of our findings and recommendations.
Related Services:
Regulatory Compliance Consulting
Fraud Risk Assessment and Prevention
Process Improvement Consulting
IT Risk and Cybersecurity Assessment
Governance and Compliance Framework Development
