Internal audit is an independent management function that involves a continuous and critical appraisal of an entity's operations to suggest improvements, enhance value, and strengthen its overall governance mechanism. This includes the entity’s strategic risk management and internal control system.
Internal controls are systematic measures—such as reviews, checks and balances, methods, and procedures—implemented by an organization to:
Conduct its business in an orderly and efficient manner,
Safeguard its assets and resources,
Deter and detect errors, fraud, and theft,
Ensure the accuracy and completeness of its accounting data,
Produce reliable and timely financial and management information, and
Ensure adherence to its policies and plans.
We have expertise in conducting internal audits for various entities and assist our clients in understanding different aspects of internal control and reporting.