Internal Audit Services in Abu Dhabi
Internal auditing gives a complete insight on the functioning of a firm along with an objective evaluation of the company’s monetary condition. HLB HAMT’s internal audit services in Abu Dhabi are guided by a comprehensive, validated methodology, which is carried out by qualified and experienced professionals. Our auditors communicate regularly with process owners and managers throughout the audit process to address significant issues, reduce the risk of fraud, and additionally, make sure submitting time limits are met.
A good internal audit service can help the firm to run smoothly by supporting both co-sourced and outsourced audit service models.
Co-sourced internal audits in Abu Dhabi are needed by several type of organizations. Internal audits for PJSC companies are usually co-sourced while private companies adopt multiple models. Co-sourced internal audits are intended to assist internal audit managers in companies for improving internal audit quality and span while reducing costs, as well as improving on risk and control management.
Outsourcing internal audits to third parties provides companies with the opportunity to meet their specific requirements with complete professionalism and neutrality without compromising on their core activities thus enhancing business processes in the long run.
Benefits of Internal Audit Services in Abu Dhabi
Primary benefits of outsourcing internal audit services include:
- Compliance to Rules and Regulations
An independent internal auditor investigates a company’s organizational processes on behalf of its clients and will have in-depth knowledge and awareness about the rules and directives in the country.
- Best practice reference in the Industry
Independent auditors are more knowledgeable about issues, whether they are industry-specific or generic. They have an advantage in evaluating and addressing problems because they have worked in the area for years for a variety of firms.
- Impartial Assessments
An impartial internal audit review provides a better evaluation of the company’s processes, operations, systems and controls. This allows for the presentation of new ideas in order to improve operational performance, enhance internal controls, and minimize risk.
- Cost-effectiveness
Outsourcing and Co-sourcing help businesses to save money while allowing employees to focus on their core competencies.
- Functional Expertise
Our co-sourced internal auditors in Abu Dhabi and UAE have team members with functional expertise in several areas including Finance, Operations, IT, Tax, HR, Compliance etc. This enables our team to add more value to the audit.
- Increased Accountability
Because of its commitment to integrity and responsibility, internal auditing offers value to governing bodies and senior management.
- Enhanced Risk Management
Internal audits detect key risks and provide risk minimization suggestions. They evaluate the risk management systems in place at the company and verify that they are in perfect working order.
Chief Financial Officers, Audit Committees, and other partners are increasingly concerned about assessing and managing \risks. Inside reviewers can shift their focus to solve these concerns while also increasing their critical value to the organization. HLB HAMT’s approach can be readily tailored to an organization’s specific requirements and its services are as follows:
- Advising the client’s management team on how to set up a secure and effective internal control environment.
- Providing guidance on how to manage fundamental operational risks.
- Assisting with the alignment of operational strategy and risk performance metrics with corporate objectives.
- Examining the key structures, and procedures that support good corporate governance.
- Assisting with management and business awareness processes for efficient and focused practices.
In today’s demanding global business environment, organizations are confronted with new risks, offering a challenge to old strategies and assumptions. Our internal audit services in Abu Dhabi emphasize on providing independent, objective support in the design, implementation and operating effectiveness of controls.