Internal Audit

IT combines financial, operational, compliance, and information system audit steps primarily recommended to regulated entities. Controls are typically composed of policies, procedures, practices, and organizational structures implemented to reduce risk to the organization. As your Internal Auditor, we assess whether the internal controls are developed to assure management that the organization’s business objectives will be achieved and that risk preventive measures are efficient and adequate.

Our program follows the CISA framework, designed to collect and evaluate evidence to determine whether an information system and related resources are adequately safeguarded and protected, maintain data and system integrity and availability, and achieve organizational goals effectively.

Our team also analyzes the internal controls to see whether these provide reasonable assurance that business, operational, and control objectives will be met.

To achieve a successful project outcome, the audit function should play an active role, where appropriate, in the life cycle development of a new system or business application. This will facilitate efforts to ensure that proper controls are designed and implemented in the new system. We must understand the system or application developed to identify potential vulnerabilities and points requiring control.

We are living in a challenging time for businesses and individuals, whereby we are facing a serious global energy crisis, and we are facing soaring rates of inflation whilst governments are trying to defend entities and the general public with rate hikes against inflation. Operational and investment costs are also increasing, and it is getting harder to get financing. The risk appetite of Venture capital investors is decreasing. Considering these factors, it is crucial to monitor oversight of the cash flow management closely, introduce additional strong control measures, and explore new cost optimization methodologies. We aim to assist you at this time and later on with an independent evaluation and recommendations.

The management focus is on the growth of the business and other essential objectives. The business development should be followed by quality assurance and implementation of accurate controls and procedures. Otherwise, the company can run significant risks, generate losses, and lose control over the business. In this scenario, the company might lose the status quo and face business development-, financial and operational issues. We can support you with a gap analysis and recommend actions to improve your processes and controls.

Every business has to consider security seriously regardless of its size or regulatory status. We created a framework to perform a security status quo check on your company to identify weaknesses and recommend preventive actions. It is not an ISO security audit, but the methodology is designed according to the standard.

We as the internal auditors will perform a risk assessment to establish the audit plan. However if a specific area of business needs to have an independent review, we can assist in this respect to provide relevant recommendations in order to improve the respective controls and procedures, when relevant.