INTERNAL AUDIT CONSULTANTS
INTERNAL AUDIT CONSULTANTS
A good internal auditing system ensures better management of an enterprise by improving its governance, risk management, and management controls.
Our Internal Audit team has been helping enterprises – comprising family-owned businesses as well as joint stock companies in Sudan ensuring that their assets are protected and that enterprise-level risks are well addressed.
Our team adopts a risk-based approach to evaluate and mitigate organizational risks. Further, we also help clients in managing their costs, improving business productivity, and moving their performance to the next level.
ROLE OF AN INTERNAL AUDITORS
The primary role of internal audit is to help an entity secure its assets, reputation and sustainability along with ensuring its smooth functioning. However, the function also has several other significant roles in organizations. The Internal Audit function is expected to evaluate risks, monitor and assess controls, ensure accuracy of reporting and improve operations. The internal auditor is also expected to investigate fraudulent activities and assure safeguards to prevent their recurrence, review processes and procedures and offer independent insights and advice to the senior management.
Objective of Internal Audit
Internal audit helps in enhancing the overall governance mechanism of the organization, including the strategic risk management, internal control system & processes.
An effective internal audit function is a valuable resource for any entity that helps them achieve their goals.
Advantages of Internal Audit Services
The Internal Audit department is one of the most significant pillars of an organization and as such, it requires highly skilled internal auditors who can function without any bias and internal conflicts. Many entities find it difficult to maintain an in-house internal team and hence plan to outsource.
Outsourcing the Internal Audit function has several significant benefits which include the following.
Reduces cost and time
An in-house internal audit team is more expensive than an outsourcing company. Outsourcing helps entities reduce cost, along with giving employees sufficient time to focus on the core activities of their business.
An external party can give better insights about the performance of a company, compared to employees within the firm. There are fewer chances for conflict, ego and competition, and it can also lead to novel ideas & proposals for enhanced performance and alleviation of risks & control.
Imparting industry best practice
Independent consultants have a better understanding of issues, be it industry specific or general. They would have helped numerous companies with their internal audit function and hence will have an upper hand in analyzing and solving issues.
An outsourced internal audit team is likely to have domain experts from diverse fields such as Finance, Operations, Human Resources, IT and even Strategy. People with diverse skill sets are an asset and it is usually rare to find it in a relatively smaller internal team.
An internal audit team within the organization might feel less empowered when compared to an outsourced team, as the possibility of management not giving heed to their opinions are quite high. They can’t operate independently and according to their will.
Internal Audit Services we offer
- Outsourced Internal Audits
- Co-sourced Internal Audits
- Risk Advisory Services
- Internal Audit Resource Outsourcing
- Internal Control Systems
- Compliance Audits
- Preparation of Risk Registers
- Internal Audit Training