Internal Audit and Control System Reviews

Managements today requires experienced internal auditors to address concerns in risk management, internal control environment assessments, process improvements; enterprise risk management (ERM) programs and regulatory compliances. Our experienced internal auditors are equipped to answer your regular queries and question which relate to accounting system such as: -

• Is the accounting system capable of recording financial transactions in a prompt and accurate manner?
• Is the accounting system capable of tracking expenditure by project, category, component, class, nature, etc.?
• Is the accounting system capable of comparing actual expenditure to budget and if so, have adequate explanations been secured for variances?
• Is there any chance of risk due to fraud?
• Are assets properly recorded and safeguarded from misuse, abuses and other risks?

Our Methodology

• Analyzing key processes, procedures and operation of the client,
• Identifying key controls in each such operation, procedure and process,
• Evaluating the adequacy of these controls,
• Testing compliance of sample transactions against the above control criteria,
• Reporting results of the evaluation of controls and testing of transactions,
• Recommending procedures to strengthen internal controls, 
• Suggesting methods to improve compliance with key controls and regulations and
• Follow up of action taken on recommendations made in previous reports. 

Services include:

• Advising management team to develop practical internal controls that enhance to the control environment.
• Providing advice on how to implement an effective and secured internal control environment.
• Advising how to manage core operational risk, especially those related to the reliability of business operations.
• Assisting with linking operational strategies and risk performance measures to business goals.
• Assisting with change management and business awareness processes by helping make the transition from existing practices to more efficient and focused.
• Approaches through training and assisting of staff in the development of new skills specific to their jobs.
• Evaluating the key structures, dynamics and processes required to reinforce effective corporate governance.

What we offer

• Complete internal audit outsourcing,
• Partial internal audit outsourcing,
• Staff sharing basis ( supervisory and execution) and
• Internal control system study and evaluation.