Internal Audit

Objectives

Provide the board, the Audit Committee, and Executive Management of the client firm with assurances that risks are mitigated and that the organization’s corporate governance is strong and effective.

Methodology

Monitor, assess and analyse organisational risk and controls
Review and confirm information and compliance with policies, procedures and laws and regulations by following internal audit standards and popular framework like COSO, COBIT and eSAC and Best Practices in the industry.

Deliverables

Internal audit report.

External Audit

Objectives
Provide periodic or specific audit services as an independent auditor to determine whether the accounting records are accurate and complete and prepared with the provisions of GAAP, AAOIFI (if applicable) and that the statements prepared from the accounts present the organization’s financial position, and the results of its financial operations fairly.

Methodology
• Initial meeting with the client
• Gathering information on clients organization and accounting systems and systems of internal control
• Development of audit strategy ( Risk based approach)
• Executing the audit
• Audit closure meeting with the client
• Reporting

Deliverables
External audit report and management letter

Information Systems Audit

Objectives
An examination of the management controls within an information technology infrastructure of the client. The evaluation of obtained evidence determines if the information systems are safeguarding assets, maintaining data integrity, and operating effectively to achieve the client firm’s organizations goals and objectives. These reviews may be performed either independently or in conjunction with a financial statement audit, internal audit or other form of attestation engagement.

Methodology
• Audit planning
• Risk assessment and business process analysis
• Audit strategy (Risk based information systems audit approach)
• Performance of audit work
• Control Objectives for information and related technology (COBIT)
• Application control review
• Use of Computer Aided Audit Techniques (CAATs) in the performance of an IS audit
• Audit closure meeting
• Reporting

Deliverables
Information systems audit report