Risk is inherent in running a business. During the course of day-to-day operations, times of change or increased governance responsibilities, any number of risks may arise that need to be managed.
An internal audit is essential to an organization’s system of checks and balances and a valuable tool for boards and audit committees. It helps identify how well risks are managed, including whether the right processes are in place and agreed procedures are being adhered to.
A successful internal audit also adds value to your organization by identifying opportunities for innovation or greater efficiency.
Systematic, independent assessment
MHSS internal auditors can work with you to systematically review systems and operations across areas that have an impact on the effective operation of your business.
- Reviewing board and sub-committee charters
- Reviewing strategic/corporate planning processes
- Assessing board/sub-committee performance including fitness/proper assessments for individual directors
- Assessing board control including delegations and policy setting
- Preparing independent performance audits/evaluations of specific activities
- Managing of conflicts of interest
- Assessing or implementing fraud control strategies
- Assessing complaints about management processes
- Investigating allegations and complaints
- Assessing corporate culture to risk management and risk maturity assessments
- Reviewing risk management frameworks/policies
- Facilitating risk identification and assessment workshops
- Reviewing risk management treatments for effectiveness
- Reviewing risk management reporting systems
- Assessing control environments
- Risk assessing and testing internal controls for business cycles such as payroll, expenditure, revenue, asset management
- Assessing and testing general computer controls
- Assessing and testing application computer controls
- Assessing compliance with legislative or policy requirements
- Managing fraud risk including advising on prevention, detection and prevention of fraud
Minimizing the potential for risk
Our recommendations are designed to assist you to improve systems and procedures to achieve greater efficiencies, as well as provide assurance that you are minimizing the potential for risk.
Our demonstrated track-record
MHSS has provided internal audit services for many clients and has extensive experience in developing and implementing systems and processes to improve organizational performance.
We can demonstrate success in helping clients achieve their business objectives through the implementation of our recommendations.
We would be delighted to discuss how we can help you, and your group or company. Please get in touch and contact MHSS at firstname.lastname@example.org or alternatively, contact our office directly.