Risk Advisory
Focused on risks
Our internal audit services are primarily designed to help organisations achieve their objectives. Accordingly, our approach is a risk-based business approach which focuses on critical aspects of your business.
Our primary role as Internal Auditors is to provide an objective assessment to senior management, the Audit Committee and the board of directors as to whether internal controls within the organisation are operating effectively and risks are being appropriately managed.
In this connection, our internal audit procedures are carefully designed with a view to identifying possible weaknesses in controls within your organisation and proposing effective remedial actions to assist in achieving a strong overall control environment.
Compliance
Compliance is a fundamental component of internal controls to ensure that the company does the right thing at the right time and in the right way. We provide assurance that the company is adhering to contractual agreements, laws and regulations (where applicable), policies and procedures, and corporate standards.
Ad-hoc support
We offer, at short notice, the necessary support and advice to proactively assist management to mitigate new and emerging risks or concerns. This includes investigations into allegations of fraud, irregularities, and malpractices, including assessing their monetary impact, identifying the root causes and recommending measures to strengthen systems and procedures.
Internal audit framework
We employ the internationally recognised Committee of Sponsoring Organizations of the Treadway Commission (COSO) Framework for defining, evaluating, testing and reporting on the organisation’s policies, processes and systems. As defined by COSO, internal control is a process, effected by the company’s board of directors, management and other employees, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
- Effectiveness and efficiency of operations (including safeguarding of assets);
- Reliability of financial reporting; and
- Compliance with applicable laws, regulations and international / national standards.
The COSO Framework, in conjunction with our risk based audit techniques, is adopted in the planning, execution and reporting of our audits.
Internal audit methodology
Our audits follow a five-stage delivery model which serves as an overall framework that can be incorporated into almost all audit assignments.
- Audit Planning & Risk Identification;
- Audit Execution;
- Audit Analysis & Risk Assessment;
- Audit Reporting;
- Audit Follow up, in conjunction with our risk based audit techniques, is adopted in the planning, execution and reporting of our audits.
Our expertise in corporate governance and risk management can assist you not only to satisfy regulators but to demonstrate a commitment to best practice to wider stakeholders and investors.