N R Doshi and Partners is a top Internal Audit Firm in Dubai. We provide Internal Auditing service to improve efficiency and add value to operational aspects of an organization. Our Internal Auditing Services in Dubai help companies streamline their way of working and achieve their business objectives. We take an objective look at their internal processes for risk management, internal control, and governance to improve the overall efficiency of them. Our Internal Auditors in Dubai have extensive internal auditing experience and have worked with businesses of all sizes and types.
Internal Audit Firm in Dubai
The business world is facing increased competition from online and offline ventures. Business formats have changed, and it has put extra pressure on the way business handles its internal processes like purchase, sales, inventory, and finance. To cope up with the outer change, one has to continually change internal processes to remain competitive, effective, and efficient. Most of the businesses lack skills in designing, implementing, and monitoring the internal control framework, and that’s where we, as a top internal audit firm in Dubai, come into the picture. Our internal audit service provides objective and independent consulting, opinion, and feedback on the quality and working of the internal control framework in the organization.
Assurance that builds confidence and drives value
Internal Auditing Process
Our Internal Auditors are well versed in the principles of corporate governance and risk management processes. We study the business processes of a company, identify process improvement opportunities, and recommend and implement them. Our Internal Auditors take a look at the internal procedures and suggest ways to improvise them. We also study the execution of management directives and the effectiveness thereof. Our risk management professionals undertake risk assessments and develop a comprehensive risk-based assurance plan. Our internal auditing team also studies regulatory compliance needs and recommends the necessary steps. We automate the implementation of internal audit strategy through the integration of IT and monitor day to day working of the organization with the help of Business Intelligence tools.
Internal Audit Service
Our Internal Auditing Service makes sure that the organization is not only compliant with its plan, policies, and procedures but also with the regulatory requirements. As a top internal audit firm in Dubai, we suggest ways to achieve operational efficiencies and help the organization achieve cost efficiencies. We ensure that risks are appropriately taken care of, and the physical assets of the company are adequately protected.
We work with the stakeholders to set up an internal audit function within your company and assist you in all the steps of the way, including strategy formulation, business process study, and optimization, risk assessment, internal audit planning, execution, and follow-up. We also work with your internal audit team to provide them with the best practices, tools, and expertise.
- Strategic Review of the Internal Audit Function
We do undertake an objective and independent review of your internal audit function. We understand and validate management objectives behind the internal auditing function, evaluate as-is internal audit function, processes, procedures, methodologies, and capabilities as against the objectives, identify process improvement opportunities and provide a comprehensive strategic plan meeting the management objectives.
- Outsourced Internal Audit Service:
Here we provide full-fledged internal audit service with the help of experienced auditors and technical and domain experts. Our Internal Audit professionals implement the best practices, tools, and methodologies to help you meet your objectives.
- Internal Control Policies and Procedures:
We do assist in developing or enhancing internal control policies and procedures and help you improve the overall functioning of your internal audit department.
- Performance improvement reviews:
We study existing business processes, identify weaknesses, suggest improvements, and align them with the best practices. Our performance improvement reviews help companies achieve higher efficiencies and reduce costs.
- Follow-up engagements
Here we take the last audit report as the base and help you take action on reported items to enhance the operational efficiencies and then go deeper into the operational aspects of the company to achieve cost efficiencies and cost reduction. We also keep regular monitoring of the functioning of the company to ensure that internal controls are working as intended.
- Special Investigations
Special Investigations are aimed at finding financial and operational fraudulent acts, gathering evidence, and helping the organization in taking a legal course of action.
With our Internal Auditing Service in UAE, audit committees, boards, and CEOs can be sure of the following:
- Internal control mechanism is effective and working as intended
- Risks are appropriately identified, classified and managed as per the risk appetite of the organization
- Business processes are optimized towards bringing efficiency and effectiveness.
- Assets are identified and adequately safeguarded.
- Contractual obligations and regulatory requirements are complied with.
- Undetected issues which are essential for the survival and growth of the organization are identified and appropriately addressed to
- The internal audit framework is assisting the business in achieving operational efficiencies and business objectives
- The overall internal auditing function is responsive to changing business needs
As a top internal audit firm in Dubai, our approach to internal audit is to work with our clients on the premise of mutual trust and respect, ensuring personalized service. We tailor our service based on your requirements and make sure that you receive the maximum benefit out of it.
Whether you need support for your in-house internal audit team or a full-fledged outsourced internal audit service, we, as a top internal audit firm, have skills, expertise, and domain experts to provide you a whole gamut of services. Our team of internal auditors makes sure that your risk management, governance, and internal control processes are working as intended. We bring in best practices, tools, and technical expertise to help you achieve operational efficiency and cost reduction. We provide an objective and independent audit report with specific recommendations to enhance the overall quality of functioning of your company.
Internal audit may take up to a few weeks depending upon the size of the organization and scope of work.
Generally, internal auditors start from the past audit reports and then go on to understand organizational policies and procedures, control weaknesses, and have a thorough understanding of the way a business operates. Auditors interview employees, ask for evidence, and document their findings.
Internal audit is aimed at evaluating the performance of the business and identifying weaknesses that exist in the way the company operates so that such gaps can be bridged and organizational goals can be achieved.
Internal Auditors are appointed by the management to provide continual monitoring and assessment of all business activities. External auditors are independent auditors, and they provide their opinion on the true and fair view of the financial statements of the company.
The internal audit assesses the operational efficiency of an organization, evaluates if the internal control mechanism set by the management is working as desired and recommends action items to improve the overall efficiency of the organization so that it can achieve its goals and reduce costs.
When the organization is going through operational inefficiencies, loss of assets, frauds, and increase in the size of its business and complexity, it should think of establishing best policies and procedures and appoint an internal auditor to check if the established policies and procedures are working as intended.