Internal auditing

“Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes." 

Internal auditing is the practice of advising organizations regarding how better to achieve their objectives.

Your organization’s management is responsible for the internal control of your entity. Managers are the ones who establish policies and procedures to help the organization achieve specific objectives in each of these categories. We would perform audits to evaluate whether or not the policies and procedures in place are designed and operating effectively and provide recommendations for the improvement.

The actual scope of an internal audit can be quite broad, however management can determine the scope of such reviews to concentrate on what they believe to be particularly risk factors, generally the topics may encompass such issues as efficiency of operations, financial reporting reliability, deterring and investigating fraud, safeguarding the company’s assets and ensuring the organizations policies and procedures are in compliance with all government agencies laws and regulations.

Gulfpro Accountants can provide internal auditing function to your entity to report to directors regarding how better to improve the efficiency of operations which leads to achieve the objectives.