Key Contacts

Services

Audit & Assurance

Internal Audit

Internal audits evaluate a company’s internal controls, including its corporate governance and accounting processes. They ensure compliance with laws and regulations and accurate and timely financial reporting and data collection, as well as helping to maintain operational efficiency by identifying problems and correcting lapses before they are discovered in an external audit.​​​​

Breaking down internal audit:

Audit Procedure

Assessment Technique

Analysis Techniques

Reporting

​Internal audits may take place on a daily, weekly, monthly, or annual basis.​​

​Assessment techniques ensure an internal auditor completely understands internal control procedures, and whether employees are complying with internal control directives.

​​Auditing procedures include transaction matching, physical inventory count, audit trail calculations, and account reconciliation.

​The internal report typically includes sensitive or significant results the auditor thinks the board of directors needs to know right away and a description of audit findings and suggestions for improvements to internal controls and control procedures.