Owning a business means being able to be well-prepared for all the matters it may give you in return, regardless of whether it is good or bad. Likewise, it is important to have enough knowledge and skills that will be indeed useful in operating an organization. However, there are circumstances in a business that cannot be avoided and needed to be tackled whether the owner like it or not. One of the natural components of having a business and yet the toughest one is dealing with risks. If one is oblivious on how to grapple with a proper risk management, these will be the entryway to a business failure. This is the reason why does a business owner must really consider working on their business’ internal audit.
Internal audit is known to have an indispensable function in one's association. It magnifies and modifies the risks that may possibly arise in a business. The weaknesses of a business will be addressed immediately before it get worse, of course with the help of the expertise of the internal auditors. Through internal audit, it can be proven that "prevention is always better than cure."
Likewise, it intends to add value and to work on the growth and development of an organization’s operations. Internal audit is used in assessing and enhancing the effectiveness of risk management, control and governance processes.
Perceiving the business objectives and goals is an extra capability that an expert internal auditor can do as they as considered as the eyes and ears of the management.
Internal auditors are the ones responsible in enhancing and protecting the organizational value. More than like what it is by all accounts an internal auditor, they are responsible for taking good care of one’s business. More than what you expected them to be, working out of their comfort zone is their expertise.
They are in charge of protecting your business and organization at all costs. How is it possible? Verification is the key! Internal auditors verify any shortcomings in a company’s internal control. In the United Arab Emirates, the internal auditors ensure whether your business is complying with the UAE laws and regulations. They likewise provide you risk management and safeguard against potential fraud, waste, or abuse.
Internal auditors can be considered as one of the most flexible workers. They can deal with people across the organization at all levels. They indeed understand the wide and massive perspectives and challenges existing in business and organization. Internal auditors have the control to see what is truly important to a business which allows them to develop recommendations and solutions that are uniquely tailored for the whole organization.
Internal Auditors are working beyond audits, inspections, and analyses. They are experts on how to implement change that will last. What else they do? Well, they can do partnership with management while operationalizing new regulations, streamlining processes, offering trainings for the employees, encouraging the employees, and ensuring to provide a quality audit.
AMCA, listed as an approved auditor in the Ministry of Economy, ensures to satisfy our clients with our audit services such as the internal audit and the like. Our expert auditors will undoubtedly guarantee to check all the business operations are being carried out effectively. They will help you to achieve your business objectives, improve your organization’s identification of opportunities and threats through the use of ISO 31000. Our competent auditors will be providing an independent and objective risk assessment of the operations of the company, specifically the effectiveness of the internal control structure.
Other than the internal audit, AMCA also offer services like external audit, tax audit, revenue audit and interim audit. We liaise with all major free zones & mainland authorities across the UAE.
With AMCA, we will help you to cope with your challenges with confidence and certainty!
Latest updates and blogs about the Audit & Assurance