Internal Auditing?
The role of Internal Audit is to provide independent assurance that an organisation’s risk management, governance and internal control processed are operating effectively.
Why Internal Auditing?
- Provides objective insight
- Improves efficiency of operations
- Detect and prevents loss by errors, negligence, fraud and other related risks
- Evaluates risks and protects assets
- Assesses organizational controls
- Ensures legal compliance
What You Need From Us
Test & Evaluation of Internal Controls
- Organizational Structure and design – structure vs strategy, job design and redesign
- Supervision – styles, span of controls and activities
- Management Review – reports and action
- Human Resources Control – contracts, code of contact, job descriptions and specifications etc.
- Authorization – levels of authorization
- Separation / Segregation of duties – from transaction initiation to completion
- Physical Access Control – physical locks, passwords, system user rights etc
Substantive Testing
- Checking accuracy financial transaction records
- Testing the Reliability and Accuracy of Financial Balances
- Stocktaking and confirmation of the validity of the inventory valuation calculations.
IT System Audit
- Checking accuracy of transactions in Computerised Accounting systems
- Following and analyzing of Computerised Accounting System Audit trails
- Test of System errors in POS Systems, Payroll Systems, and Accounting Systems.
- Test of Computerised Accounting system manipulations and fraud.
- Test of Computerised accounting system security integrity levels
Standard Operating Procedures
- Recommendations and implementations of Standard operating procedures
- Drafting Standard Operating Procedure documents.
- Help in Organizational Policy Formulation