Internal Audits

The internal audit functions is key in any organisation to ensure that their reporting goals are achieved. Many companies small or medium size are feeling the impact of not having an effective and efficient Internal Audit role in the organisation.

The increased consequence of these actions see organisations falling to manage, assess business and enterprise risk. Compliance and increased governance challenges which organisations are faced with required someone who has the expertise of leading the internal audit department to ensure that risk of material misstatement at overall financial statement is reduced to an acceptable level.

The internal auditors of the organisation must ensure that risk management, internal control and governance processes are set in such a way to accomplish the organisations objective and meeting the expectations of the stakeholders.

Organisations are faced with various challenges when it comes to internal control and the role of internal Auditors; we have therefore identified a few issues facing some Companies.

Your Internal Audit function:

• Maybe resistant to change
• Maybe using an old internal audit approach and technics
• Maybe lacking independence
• Maybe reporting the same issues, which add no value to the organisation
• May not be equipped to handle and advise on the fourth industrial revolution

A solution to the challenges faced by your organisation is to ensure that you bring on board an organisation, which has the expertise to help you accomplish your reporting and internal control environment needs.