Internal Controls

A management's best ally.

Internal Controls

Great managements continuously find ways to improve workflows in their organisation / department / project; and they often look towards internal auditors to do so.

An internal audit is a data-based study into internal processes and internal controls, with a goal to find opportunities for improvement. This meticulous approach can be applied to any department or project, or even to the entire organisation.

Typically, it entails the following:

  • Understanding and modelling various processes
  • Assessing compliance programs
  • Identifying key risk indicators (KRIs), and creating a mechanism to track them
  • Discovering abnormalities, and checking for errors and/or frauds
  • Unveiling risk management issues
  • Create a consolidated risk and controls assurance plan
  • Educating stakeholders on risk management

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