Internal audit services are designed to help organisations assess and manage risks, ensure compliance with laws and regulations, and improve operational efficiencies.
Some common internal audit services include:
Risk assessment and management: Identifying and assessing risks, developing risk management strategies, and monitoring risk controls.
Compliance auditing: Reviewing organisational policies and procedures to ensure compliance with applicable laws and regulations.
Operational auditing: Assessing the efficiency and effectiveness of operations, including financial reporting, human resources, and supply chain management.
Financial auditing: Reviewing financial statements and related records to ensure accuracy and compliance with accounting standards.
Information technology auditing: Evaluating the effectiveness of IT controls, including security, data integrity, and system availability.
Fraud detection and prevention: Investigating and preventing fraud and other unethical behaviour within an organisation.
Performance auditing: Evaluating the effectiveness of programs and processes to determine whether they are achieving their intended goals.
Internal controls testing: Assessing the design and operating effectiveness of internal controls to ensure they are preventing or detecting errors and fraud.
Quality assurance reviews: Evaluating the effectiveness of the internal audit function itself to ensure it is operating in accordance with professional standards and best practices.
Consulting services: Providing advice and recommendations to management on a variety of topics, such as process improvements, risk management strategies, and compliance issues.
