Internal Audit

The internal audit is a report addressed to the management of the company which aims to assess and examine the effectiveness and application of the internal control systems of the company. It is executed at the clients premises and it is planned ahead in time so that important documentation and paperwork is been provided to the internal audit team well in advance of fieldwork. This allows the internal audit team to prepare and design the internal audit in the most efficient and less disruptive manner for company.

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The internal audit usually examines the below areas:

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• Methodology, audit plan and risk based approach

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• Corporate governance, structure,  personnel and working conditions

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• General requirements for specific functions such as advertisement and client communication

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• Assessment of back office, accounting and other departments considered important at planning stage

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• Regulator compliance and communication

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• Compliance functions and infrastructure

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• Assessment of systems and controls through out the organisation

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At the end of the internal audit engagement the internal auditor will issue an executive summary that summarises all these results backed by the specific tests and outcomes performed for each function of every department.