INTERNAL AUDIT & RISK
The Internal Audit & Risk functions within a business help the business to achieve its goals and strategies by ensuring that the Internal/Management controls are adequate and sufficient to ensure that the business risks are manged in an appropriate manner and that any failures are detected early or prevented to ensure that the company is profitable and operates efficiently. Internal controls serve as the first line of defence in fraud, violations of laws and regulations.
Reputation is everything. By ensuring that your business has a fit for purpose Internal Audit & Risk function which is tailored to meet the challenges of operating in your environment you ensure that the reputation of your organisation both locally and internationally is help in high regard. Whether you need to design your Internal Audit or Risk function from scratch or improve your existing operations we can help. Having an independent expert assist your Company in deploying a Risk Management Solution will greatly reduce the time and costs incurred.
We can design and implement a bespoke Internal Audit or Risk solution in your business which will ensure that all the key risks are managed and monitored in an efficient manner. We can provide as part of your solution an IT system which will allow dynamic monitoring and reporting of all the key risks and issues in your business and a central repository of all your risks, controls and issues. This will minimise the time your business spends on the process and focuses the time spent on resolving issues and taking advantage of opportuntieis.
Ensuring that you comply with international standards such as ISO 31000:2009 and the COSO framework will help you to easily identify and manage Strategic, Corporate, Operational and Project risks so you can make smarter decisions now and into the future.
A comprehensive report is provided to the business which outlines the design and solution for this area and an implementation roadmap to ensure successful delivery of such a project.
Key Benefits to Your Business
- Identification of key Risks & Controls across your entire business
- Assessment and reporting on these key risks and controls in a timely manner
- Link risk management processes to strategy enabling clear visibility to achieve goals
- Highlighting and resolving areas of risk within the business quickly
- Establishing a solid framework for Risk & Control reporting in your business
- Expert assistance in rolling out a first class Internal Audit or Risk function
- Use Risk and Control models to evaluate controls and other risk mitigation strategies
- Management having an independent view to make informed decisions
- Develop a dynamic Audit Plan and Risk Universe which allows Senior Management instant view of the critical aspects of their business
- Helping protect assets and reduce the possibility of Fraud
- Improving efficiency in Operations
- Increasing financial reliability and integrity
- Ensuring compliance with laws and statutory regulations
- Establishing monitoring procedures