The business world is facing increased competition from online and offline ventures. Company formats have changed, and it has put extra pressure on how a business handles its internal procedures like purchase, sales, inventory, and finance. To cope with all the outer change, one must continuously change internal processes to remain competitive, effective, and efficient.
Most of the companies lack skills in designing, executing, and monitoring the internal control framework. That is where we, as a top-rated internal audit company in Dubai, come into the picture. Our internal audit service offers independent and objective consulting, opinion, and opinions on the quality and functioning of the internal management framework in the business.
Internal Auditing Procedure
Our Internal Auditors are well versed in the fundamentals of corporate governance and risk management processes. We study the company processes, identify process improvement opportunities, and recommend and execute them. Our Internal Auditors take a peek at the internal processes and indicate ways to improvise them.
Also, we study the implementation of management directives as well as the efficacy thereof. Our risk management professionals undertake risk assessments and develop an extensive risk-based assurance program. Our internal auditing team also studies regulatory compliance needs and recommends the essential steps. We automate the implementation of internal audit approach through the integration of IT and track day to day working of their organization with Business Intelligence tools.
Our Internal Auditing Service makes sure the organization is compliant with its plan, policies, and processes and the regulatory requirements.
As a top internal audit company in Dubai, we suggest approaches to realize operational efficiencies and help the business achieve cost efficiencies. We ensure that risks are appropriately cared for and the physical assets of the company are adequately protected.
We work with the stakeholders to prepare an internal audit function within your company and assist you in all the measures of how, including strategy formulation, business process research and optimization, risk assessment, interior audit planning, execution, and follow-up.
Also, we work with your internal audit team to provide them with the best practices, tools, and experience.
Strategic Review of the Internal Audit Function
We do undertake an objective and independent review of your internal audit role. We know and confirm management objectives behind the internal auditing function, assess as-is internal audit function, processes, procedures, methodologies, and capacities against the goals, identify process improvement opportunities and supply a comprehensive strategic plan meeting the management goals.
Here we provide a full-scale internal audit agency with experienced auditors and domain and technical experts. Our Internal Audit professionals employ the best practices, tools, and methodologies to fulfill your objectives.
Internal Control Policies and Procedures:
We help develop or improve internal management policies and procedures and help you improve the overall functioning of your internal audit department.
Performance improvement reviews:
We study existing business procedures, identify weaknesses, suggest improvements, and align them with the very best practices—our performance improvement testimonials to help businesses attain higher efficiencies and reduce costs.
Here we take the previous internal audit record as the base and help you do it on reported things to improve the operational efficiencies and then go deeper into the enterprise’s operational facets to achieve cost efficiencies and cost reduction. Also, we maintain regular observation of the company’s functioning to ensure that internal controls are functioning as planned.
With our Internal Auditing Service in UAE, audit committees, boards, and CEOs could be sure of these:
The internal management mechanism is adequate and functioning as planned.
Risks are appropriately identified, categorized, and handled according to the risk appetite of the organization.
Assets are identified and adequately safeguarded.
Contractual duties and regulatory requirements have complied.
Undetected issues That Are essential for the survival and growth of their organization are recognized and appropriately addressed to
The internal audit framework is assisting the business in achieving operational efficiencies and business goals.
The overall internal auditing function is responsive to changing business demands.
As a top internal audit company in Dubai, our internal audit is to work together with our clients on the assumption of mutual trust and respect, ensuring personalized support. We tailor our service according to your needs and ensure that you receive the maximum benefit from it.
Whether you need assistance for your in-house internal audit group or a full-fledged outsourced interior audit services in Dubai. One of the top internal audit firms in UAE, we have skills, expertise, and domain experts to give you a whole gamut of solutions.
Our internal auditors‘ team makes convinced that your risk management, governance, and internal management procedures are functioning as planned. We bring in best practices, tools, and technical experience to help you achieve operational efficiency and cost reduction. We give an objective and independent internal audit report with specific recommendations to enhance your company’s total quality of functioning.
1. How long does an internal audit take?
Internal audit may require up to a couple of weeks, depending upon the organization’s size and range of work.
2. What should we expect when an internal audit?
Usually, internal auditors start in the previous external and internal audit reports, then comprehend organizational policies and procedures, control weaknesses, and have a thorough grasp of the way a business operates. Auditors interview workers, request proof and document their findings.
3. What is the aim of an internal audit?
The internal audit aimed at evaluating the operation of the company and identifying flaws that exist in the way in which the company operates so that such gaps could bridge and organizational objectives could achieve.
4. How unique is the internal audit from the external audit?
Internal Auditors are made by the management to offer continuous monitoring and assessment of business activities. External auditors are independent auditors, and they supply their view on the right and fair view of the provider’s financial statements.
5. What are the advantages of an internal audit?
The internal audit assesses an organization’s operational efficiency, evaluates if the internal management mechanism set by the management is working as desired, and urges action items to enhance the total efficiency of the organization so that it can attain its targets and reduce prices.
6. When is an internal audit required?
After the organization is going through operational inefficiencies, loss of assets, frauds, and an increase in the magnitude of its business enterprise and sophistication. It should establish the best policies and processes and appoint an internal auditor to assess if the established policies and procedures are working as planned.