Internal Audit Services
Internal Audit helps management to understand what the organization’s key risks to success of their strategy are and subsequently then provide assurance that the key controls to managing those risks are sound. We employ risk-based approach when performing audit reviews.
Our Internal Audit approach is agile, helping us to understand all the issues impacting your business and how to provide assurance over those key areas on a regular basis.
- internal Controls Review
- Inventory Audit
- Outsourced Internal Audit function
- Setting up of Internal Audit Function
- System Audit
- Asset Verification and Tagging
- Risk Assessment
internal Controls Review
Our team will review all the key business processes, identify all the control weaknesses, advise on the control measures and assist on the implementation of the controls.
Inventory Audit
Inventory is generally considered a high-risk account balance because it has a direct impact on profit. For companies whose principal activities are mainly trading, import or export of goods and manufacturing, there will be high volume of inventory movements which creates the risk of misstatement of these account balances.
Our vast experience in this field has enabled us to conduct Inventory Audits to our clients in the manufacturing and trading sector as well as companies in various fields of industries.
Outsourced Internal Audit Function
We review various company processes to ensure there is compliance to the company policies and procedures, the existing policies are adequate to safeguard any business risk..
Setting up of Internal Audit Function
We assist companies in setting up their internal audit function, we offer professional guidance on how to introduce internal audit culture in the company, developing of internal audit manuals, charter and various KPIs for the internal audit staff.
We also evaluate the performance of Internal audit function and advise on the remedial action.
System Audit
Right now, almost all companies and processes are automated. We perform risk assessment and advise various companies on areas of automation.
Our IT auditors assist in identify the system vulnerabilities and advise on the controls measures to be put in place.
Asset Verification and Tagging
Our team assists on the following
- Automation of the asset register
- Independently verify the assets and tie them to the asset register
- Tagging of assets for ease of verification and accountability
Risk Assessment
Companies that regularly performs risk assessment have greater chances of achieving their objectives.
Risk management has become part of the organization day-to-day operations both at the board and senior management level.
- We perform risk assessment for all key processes
- We identify all the risks
- We update risk register for all departments
- We rank all the risks for all the departments
- We assist in coming up with the risk treatment and consistently follow up
- Training of the senior management on risk management