Internal Audit

An independent, objective assurance and consulting activity, internal audits can help you add value to and improve your organization’s operations. An internal audit brings in a systematic and disciplined approach to the evaluation and improvement of the effectiveness of risk management, control, and governance processes, hence helping the organization in an effective accomplishment of its objectives.

The main features of an internal audit are

  • Monitoring, assessing, and analyzing organizational risk and controls

  • Reviewing and confirming information and compliance with policies, procedures, and laws

  • Providing assurance that risks are mitigated and the organization’s corporate governance is effective and strong

  • Making recommendations for enhancing processes, policies, and procedures wherever there is room for improvement

Maxcon has a team of experienced staff, with background in audit and accounting management, who can help you with the perfect solution for your organization’s internal auditing needs. Our services include :

  • Establishing and communicating the scope and objectives of the internal audit to the appropriate management.
  • Developing an understanding of the business area under review. This step includes objectives, measurements, and key transaction types as well as a review of documents and interviews.
  • Describing the key risks that are faced by the business activities within the scope of the audit.
  • Identifying the management practices in the five components of control used to ensure each key risk is properly controlled and monitored.
  • Development and the execution of a risk-based sampling and testing approach to determine whether the most important management controls are operating as intended.
  • Reporting of issues and challenges identified.
  • Assisting in the negotiation of action plans with the management to address the discovered problems and risks.
  • Follow-up on reported findings at appropriate intervals.