Internal Audit
consultations
Core Internal Audit Activities
- Internal audit focuses on independently evaluating whether an organization’s risk management, governance, and internal control processes are functioning effectively
Risk Assessment
- Identify and evaluate key risks across operations, finance, compliance, and IT
- Update the audit universe and annual audit plan
Operational Audits
- Review efficiency and effectiveness of business processes (e.g., procurement, inventory, sales, HR)
Financial Audits
- Ensure accuracy of financial reporting
- Verify compliance with accounting standards
Compliance Audits
- Assess adherence to regulatory requirements (e.g., SOX, ISO, GDPR)
- Review contract compliance
IT & Cyber security Audits
- Evaluate IT general controls (access, change management, backups)
- Review cybersecurity frameworks, data protection, and system resilience
Internal Control Testing
- Test design and operating effectiveness of internal controls
- Identify control gaps and recommend improvements
Fraud Detection & Investigation
- Perform fraud risk assessments
- Support investigations of suspected fraud, misconduct, or irregularities
Follow-Up Audits
- Verify completion and adequacy of corrective actions
- Ensure risk mitigation measures are sustained
Reporting to Management & Audit Committee
- Provide clear audit reports
- Summaries of findings, risks, and recommendations
