Internal Audit

At present there are a drastic changes  in corporate governance in Pakistan that SMEs are experiencing. Due to this change the pace has also altered resulting in a changed environment for the landscapes.

Internal Audit Services

However, whilst we talk concerning the governance of corporate so it is further more than we deem it, too many strategies are involved in it. For it to be effective, it must be ascertain that all the people of the corporate sector must be engaged in the decision making process. In addition, for all this you may call for legitimate people, policies, data, as well as ideas.

Demonstrate Good Corporate Governance

All the professionals related to the Audit exercise as well as the businessmen know of the vital importance for the success of the business to have an Internal Audit team that responds to the interests of the same and that is a factor allied to the high management of the entity, will thus ensure the correct administration, use and control of human, material and financial resources.

We add value and optimize the operations of your organization. The Internal Audit is one that is practiced as an instrument of the own administration in charge of the independent valuation of its activities. Internal audit is not all about implementing policies and procedures; it’s about get effective corporate governance result.

Internal Audit Definition

Internal Audit is an activity whose main objective is to examine and evaluate the adequate and effective application of internal control systems, ensuring the preservation of the integrity of an entity’s assets and the efficiency of its economic management, proposing to management corrective actions.

Internal Audit

Responsibilities of the internal auditors that we have;

They are classified in:

  • Nature
  • Purpose and scope
  • Responsibility and authority
  • Independence
  • Elements of work of the internal auditor

The elements of Internal Audits that we have, except for special assignments, can be classified in:

  • Fulfillment
  • Check
  • Evaluation

Nature:

The Internal Audit is the denomination of a series of processes and techniques, through which it gives first-hand security to the management with respect to the employees of its own organization, from the observation in the work regarding:

  • If the controls established by the organization are properly and effectively maintained
  • If records and reports accurately and accurately reflect current operations and result properly and promptly in each department or another unit, and if they are being taken out of the plans, policies or procedures for which the Audit is responsible.

Therefore, Internal Audit should function as an activity designed to add value and improve the operations of an organization, as well as contribute to the achievement of its objectives and goals; providing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and management processes.Audit services include the objective assessment of evidence by internal auditors to provide an independent conclusion to qualifying compliance with policies, regulations, standards, legal provisions or other legal requirements; with respect to a system, process, sub-process, activity, task or other matter of the organization to which they belong.We contribute to the fulfillment of its objectives, providing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Internal Audit procedure

  • We improved the control environment

Focused from a risk perspective, we try to detect possibilities for changes in processes and controls, adding value to your company.

  • We apply a guaranteed work methodology

Our methodology of work in projects of Internal Audit guarantees the success of the service through the accomplishment of a series of stages:

  • Detailed knowledge of the business

Evaluation of controls implemented from a risk perspective.

  • Design of work plan
  • Implementation of the program of work
  • Presentation of the report to the Board or Audit Committee.

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