Internal audit is a valuable business tool covering all financial and operational aspects of your business. It includes:
- Independent review of policies and procedures to evaluate effectiveness and whether they are being complied with
- Identification of areas for improvement and recommendation of action plans to help you minimise risk and achieve goals more effectively
Using a risk-based approach and proven methodology, we focus on evaluating the effectiveness of your internal controls against key risks, business strategy and commercial needs. When you work with us, you will have the confidence that our service needs will meet your compliance and business needs.
Our clients include Fuji Offset Plates Manufacturing Ltd (listed in Singapore) and G4S plc (largest security service provider in the world listed in the UK).
Why You Might Need Our Help
Internal audit is an important function that acts as a line of defence against fraud and can identify key risks in advance of issues arising. It is often more useful in identifying financial risk than external audits as it is more business-focused and in-depth.
The Malaysian Corporate Code on Corporate Governance (2007) mandates that PLCs have an internal audit function. It is not always viable for an organization to retain an in-house internal audit department with adequate skills or experience to consistently deliver valuable internal audit services. We can act as a comprehensive internal audit function for your business, including risk assessment, planning, communicating terms of reference, reporting and follow-up.
How We Can Help
We can help you review your internal controls in the following areas:
Payables Cycle and Accounts Payable
Revenue Cycle and Accounts Receivable
Production Planning and Control
Accounting Function and Financial Close
Human Resources and Payroll
IT Post Application Controls Review
Internal audit is often more useful in identifying financial risk than external audits as it is more business-focused and in-depth.