Internal Audit has become an important element in the assurance environment of many organizations and a valuable tool and contributor to managing risk more effectively. Specifically, internal audits may identify issues impacting Accurate processing, Policies and procedures in place, Safeguards against fraud risks, Operational risks and, information systems controls. Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. It is a cornerstone of good corporate governance in organizations and can play an important role to improve management and accountability, both financial and non-financial. Its play a pivotal activity to provide assurance to the board of directors, the audit committee, and the chief executive officer, and stakeholders that the organization is governed effectively.
In Mudhaffar our internal auditors can assist management in the decision to avoid, share, reduce, mitigate or accept risks (and can identify costs and benefits associated with each option). Owners can gain insight for improving processes, performance, controls, and risk management and for reducing expenses, enhancing revenues, and increasing profits, and its help boards and senior executives better manage enterprise risks.
Mudhaffar professionals also help organizations enhance the effectiveness, quality, and value received from internal audit. as well as broad understands of risks and areas of operational improvement particularly the nuances of specific industry sectors and markets “Mudhaffar Public Accountants” can help them to improve their performance and operating efficiency and bring value to their organizations.