Internal Audit is a process of audit and assurance intended to add extra value and develop an organization’s operations through continuous analysis. The process of Internal Audit helps to achieve a company’s objectives by implementing a disciplined approach to meticulously assess and improve the effectiveness of risk control, management, and governance.
Be it a big or a small business, internal auditing involves a deep check of the entire internal controls and regulatory compliance. We Standard Auditing, one of the approved auditing firms in Dubai, perform the accounting procedures in a paramount way to build value for your business.
Role of an Internal Auditor
An internal auditor makes sure to provide management with independent assurance on a business’s risk management strategies, internal controls, and operational governance. An internal auditor does investigate, evaluating, supervising, and analyzing the risks & further controls. Adding to this, checking information and compliance with procedures, policies, and laws. The internal auditor will assess the achievement of goals and objectives set by the Senior management.
Objectives of Internal Audit
- Risk Assessment
- Management assistance to evaluate internal controls
- Strengthen internal controls and accomplish the company’s objectives
- Performance evaluation and risk management
- Find the KPI deviations and suggest recommendations for improvement
The major benefits of internal auditing are:
- Arriving at peerless efficiency and effectiveness considering all the operations.
- Timely and accurate business reporting can be achieved and thereby the core objectives of the company.
- Internal auditing makes sure that all the business aspects comply with laws and regulations.
- When you do internal auditing, it ensures that all the company assets are in a safe & secure place.
All the companies in Free zones, Mainland zones including the branch of foreign companies require internal auditing. For the best assistance, contact us!