Do you want to test your organization’s practices and records? Or perhaps, examine the effectiveness of imposed internal controls?
SD Consult’s audit advisory is a service designed to provide an insight on the completeness and accuracy of records and the coherence and reliability of internal systems given applied structures, policies, and procedures.
SD auditors are well equipped to help you develop – through well designed methodologies – a working knowledge of underlying gaps, assess possible risks, and inflict the necessary change to improve your practice.
The internal audit serves as an inspection step of adopted practices in order to assure current performance and improve it to a sought-out level. The internal audit holds a significance in assessing the adequacy of currently applied internal controls and the overall condition of the system.
The external audit*, on the other hand, serves as a testament to interested stakeholders regarding the materiality and accuracy of presented records. The external audit poses an unbiased and independent opinion of the examined records to reflect the level of confidence in those records.
The outcome of internal and external audits is a comprehensive endorsed report that reflects the degree of confidence in the current situation.
The scope of conducting an audit can be comprehensive to cover all the organization’s departments or specific to focus on a certain set of functions.
The approach we adopt follows the following points:
- Survey legal background & requirements.
- Survey assumed operations to run the organization.
- Survey adopted and applied standards and guidelines.
- Survey existing structures, policies, processes, and procedures.
- Review current records and practices.
- Identify observations and areas for improvement.
- Summarize findings in a well-evidenced audit report.
- Propose recommendations to embrace necessary change.
- Share and explicate audit outcomes to management
- Attend to queries of management.
*This requires a letter of engagement with Certified External Auditors