Internal audit and control system reviews
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This document discusses internal audit and control system reviews provided by HLB Hamt. Their experienced internal auditors can evaluate accounting systems, assess risk management and internal controls, improve processes, and ensure regulatory compliance. Their methodology involves analyzing key processes and controls, testing transactions, reporting results, and making recommendations to strengthen controls. Services include advising on internal controls, operational risk management, change management, and evaluating corporate governance. HLB Hamt offers complete or partial internal audit outsourcing, staff sharing, and internal control system evaluations.
Internal audit and control system reviews
- 1. Internal Audit And Control System Reviews www.hlbhamt.com
- 2. • Managements today requires experienced internal auditors to address concerns in risk management, internal control environment assessments, process improvements; enterprise risk management (ERM) programs and regulatory compliance.
- 3. Our experienced internal auditors are equipped to answer your regular queries and questions with the accounting system;
- 4. • Is the accounting system capable of recording financial transactions in a prompt & accurate manner? • Is the accounting system capable of tracking expenditure by project, category, component, class, nature, etc.?
- 5. • Is the accounting system capable of comparing actual expenditure to budget? • Chance of fraud risk/ • Are assets properly recorded & safeguarded from misuse and abuse?
- 6. Our Methodology • Analysing key processes, procedures & operation • Identifying key controls in each such operation, procedure & process • Evaluating the adequacy of these controls
- 7. • Testing compliance of sample transactions against these controls • Reporting results of the evaluation of controls and testing of transactions • Recommending stronger controls wherever necessary • Suggesting methods to improve compliance with key controls • Follow up of action taken on recommendations made in previous reports
- 8. Services include: • Advising your management team to develop practical internal controls that enhance the control environment. • Providing advice on how to implement an effective and secured internal control environment.
- 9. • Advising how to manage core operational risk, especially those related to the reliability of business operations. • Assisting with linking operational strategies and risk performance measures to business goals.
- 10. • Assisting with change management and business awareness processes by helping make the transition from existing practices to more efficient and focused • Approaches through training and assisting of staff in the development of new skills. • Evaluating the key structures, dynamics and processes required to reinforce effective corporate governance.
- 11. What we offer • Complete internal audit outsourcing • Partial internal audit outsourcing • Staff sharing basis ( supervisory and execution) • Internal control system study and evaluation