» Audit & Assurance » Internal Audit
“Internal audit is an independent management function, which involves, a continuous and critical appraisal of the functioning of an entity with a view to suggest improvements thereto and add value to and strengthen the overall governance mechanism of the entity, including the entity’s strategic risk management and internal control system’’.
Internal auditing is performed by professionals with an in-depth understanding of the business culture, system, and processes, the internal audit activity provides assurance that internal controls in place are adequate to mitigate the risks, governance processes are effective and efficient, and organizational goals and objectives are met.
We, at Maxims Auditors, assist our clients by providing recommendations for improvement in those areas by identifying every point of opportunities and deficiencies. While management is responsible for internal controls, the internal audit activity provides assurance to management that the internal controls are effective and working as intended. An effective internal audit activity is a valuable resource for management and the objectivity, skills, and knowledge of competent internal auditors can significantly add value to an organization’s internal control, risk management and governance process.