Internal Audit Services in Dubai, UAE
Internal Audit Service is an independent, objective assurance and consulting activity intended to add value and develop an organization’s operations. Internal Audit helps business to achieve its objectives by bringing a methodical, meticulous and disciplined approach to assess and enhance the effectiveness of risk management, control, and governance processes.
Internal Auditing is an activity carried on by the internal auditor to meet the management requirements of information. It is an independent appraisal activity within an organization for the review of operations as a service to the organization.
Internal Auditor’s role is to provide Management with independent assurance on the organization’s internal controls, risk management strategies and governance are operating effectively. Internal Auditors’ function includes supervising, evaluating, investigating and analyzing the risks & controls; checking and ensuring information and compliance with policies, procedures, and laws. Internal Auditor will assess the achievement of goals and objectives set by the Senior management. In the case of short of stated goals, the auditor will identify process gaps and make suggestions for improvement for bridging the same.
Internal Audit Services in Dubai, UAE
Emirates Chartered Accountants Group - Professional Internal Audit Firm in Dubai, UAE. With 15+ years of experience in offering quality Internal Audit Services in Dubai across the UAE.
Call for Consultation
Pradeep Sai | Partner
Mob: +971 556530001
Email: sai@emiratesca.com
The objective of Internal Audit is to evaluate and improve the effectiveness of governance, risk management and control process. The overall objective of internal auditing is to assist all members of the management in exuding their responsibilities. Also, to help them with objective analysis, recommendations and relevant comments concerning with any phase of business activity wherein they can be of service to management. In short, Internal Audit will help the management for:
Risk Rating |
Risk Nature |
Audit Areas |
May change based on Industry |
Financial |
|
May change based on Industry |
Operational |
|
May change based on Industry |
Regulatory/ Compliance |
|
May change based on Industry |
Operational/Financial |
|
May change based on Industry |
Operational |
|
Risk Assessment Matrix (RAM) is used to define the risk category of each process and sub-processes or areas under the scope of Audit. The level of risk is defined considering the likelihood or probability against the category of consequence severity.
A detailed Audit plan will be drafted in discussion with the Management and areas to be prioritized depending upon the risk category & also the nature of the function. Broad areas to be Covered (Can vary depending on the industry and choice of Management)
On Approval of Audit plan, fieldwork is executed by performing walk-through, enquiry, questionnaire etc. Clients are kept informed of the audit process and the status of the audit.
Once the execution stage is completed, all the observations are collated in a draft report. The risk rating is allotted to all observations with the responsibility of the concerned function. This report is discussed with the Management or Authorised personnel to highlight the issues, concerns and deviations.
As it will be a continuous process, the scope does not end with the submission of reports. The follow-up action taken report (ATR) will be represented to the management on the status of observations and its closure status. Any long-pending observations critical to the business will be bought to the notice of the management to set a further course of actions.
Independent review and appraisal of the organization’s financial and relevant operational activities will be better when the internal auditor is not part of the organization and is independent.
Emirates Chartered Accountants is a leading Auditing firm in the UAE. If you are looking for Financial Control Audit, Audit & Assurance Services in the UAE, then you are in the right place. Emirates CA Group provides highly qualified professionals in the related field of work by providing a wide range of Audit and assurance services all over UAE – Dubai, Abu Dhabi, Ajman, Sharjah, Fujairah & Ras Al Khaimah.
Emirates CA also provides the following related services,
To ensure clients progress financially and socially.
News & Articles
Dec 15, 2020
SAIF Zone Approved Auditor(Sharjah International Airport Free Zone Auditors) Sharjah Airport International Free zone is also known as SAIF Zone runs attractive business facilities...
VIEW ALL© 2020 Emirates Chartered Accountants Group