Effective evaluation and management of risk factors are very important for a business to advance in Internal Audit. After identifying the risk factors, the Internal Auditor needs to analyze them, understand where to improve and thus find a way out. The Internal Audit process is of utmost importance for a company as it takes the business on the right track. Auditing is not a waste of time as most people get it, but an essential process which helps in the better management of a company. In order to reach this point, the company should keep track of its records.
Before going to the External Audit, the role of an internal audit is to identify and correct the problems. Boosting the productivity of the company is the utmost aim of conducting the same. The senior executives are presented with the Auditing report by the Internal Auditor.
Why Internal Auditing and its scope?
- Managing the risk
- Reliability
- Security
- Governance
- Effective methods and supervision
- Maintaining the integrity within an organisation
- Insights
- Compliance
- Controlling the company functions
In order to manage the risk factors it is essential to detect the errors by the Internal Auditor and thus assist the company in controlling this.
The Internal Auditors should make sure to not have any errors in the Auditing process and help in the smooth management while handing over to External Auditor.
Our Internal Auditing team will safeguard over any losses or unfortunate accidents (fire, theft) with better evaluation systems.
What we have accomplished through our proper governance is listed below:-
In case of any discrepancy in the auditing process done by the Accountant, the Auditor will do a thorough analysis of the report. This will indeed help the company in its future progress.
It is important to maintain the rules and regulations of the Auditing process done by the Internal Auditor by the concerned authorities. This is an important step in gaining the client's trust and thus to avoid fines.
The related losses of the company are controlled by the Internal Auditor. The internal auditor will make sure that there are no losses in the company. Along with the company, the internal Audit should also grow. Ensuring the growth of the company is the prime aim of an Internal Auditor and thus tracks their growth process.
We offer the best Audit services in Dubai along with other varied services.
