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INTERNAL AUDIT SERVICES DUBAI UAE

End-to-End Internal Audit Services in Dubai, Abu Dhabi, Free Zone, Mainland UAE

Horizon Biz Consultancy offers comprehensive Internal Audit Services that evaluate all aspects of your business, including internal controls, regulatory compliance, corporate governance, and accounting processes. Our goal is to improve your company’s operational efficiency by identifying and eliminating problems while ensuring legal compliance. We also provide support in maintaining accurate financial reporting and safeguarding assets.

Our Internal and External Audit Services in UAE assure management that internal controls are working as intended, and the company is resilient enough to meet changing external business and regulatory requirements.

The core objectives of running an internal audit are to:

  • Evaluate the effectiveness of the company’s internal controls, risk management, and governance processes
  • Identify areas for improvement in the company’s operations and make recommendations for enhancing efficiency and effectiveness
  • Ensure compliance with laws, regulations, and company policies and procedures
  • Assess the accuracy and reliability of financial reporting and identify any potential areas of fraud or misstatement
  • Provide assurance to management and stakeholders that the company’s operations are being conducted in a responsible and ethical manner
  • Help to safeguard the company’s assets and mitigate risks to the business

 

By achieving these objectives, an internal audit can add significant value to the company, improving its operations and reducing the risk of financial loss or reputational damage.

Horizon Biz Consultancy’s Service Portfolio for Internal Audit

Horizon Biz Consultancy offers reliable co-sourced and outsourced Internal Audit services in Dubai and UAE to support companies in achieving their objectives. Our co-sourced internal audit services help businesses improve internal audit quality, reduce costs, and enhance risk and control management. We work closely with internal audit managers to provide professional and impartial support that improves the quality and efficiency of internal audits. Our outsourced internal audit services offer companies the chance to meet their specific requirements with complete professionalism and neutrality while maintaining focus on their core activities. This allows companies to enhance their business processes and achieve their long-term goals.

The importance of evaluating and managing project risks has grown significantly, and it has become a major concern for Chief Financial Officers, Audit Committees, and other stakeholders. To address these concerns and enhance their value to the organization, internal auditors can shift their focus towards risk assessment and management.

Our objective and systematic risk-based approach helps us drill down to areas with suspected loopholes. Once we identify areas of potential risk and evaluate the effectiveness of internal controls in place to mitigate those risks, we submit a list of recommendations to counter these opportunities. In addition, we focus on internal controls and governance protocols in place and help you ascertain the best way forward without disrupting the current way of operating for the organization.

Internal Audit Services Provided by CDA

Our Internal Audit Services have helped numerous organizations to develop a high-quality internal audit function that improves business performance and turns risks and compliance into opportunities, ultimately enhancing organizational value.

Risk Assessment and Management

Identifying and assessing risks that can impact the business, developing risk management strategies, and monitoring and evaluating the effectiveness of risk management practices.

Compliance Review and Testing

Ensuring compliance with relevant laws, regulations, policies, and procedures, conducting compliance testing, and providing recommendations for improvement.

Evaluation of Internal Controls

Assessing the effectiveness of internal controls in mitigating risks, identifying control weaknesses, and providing recommendations for improvement.

Financial and Operational Audits

Reviewing financial and operational processes to identify inefficiencies, risks, and control weaknesses, and providing recommendations for improvement.

Fraud Detection and Prevention

Investigating suspected fraud, identifying fraud risks, implementing fraud prevention measures, and providing recommendations for improvement.

IT Audits

Evaluating IT systems and controls, identifying weaknesses and vulnerabilities, and providing recommendations for improvement.

Business Process Reviews

Reviewing business processes to identify inefficiencies, risks, and control weaknesses, and providing recommendations for improvement.

Corporate Governance Reviews

Evaluating the effectiveness of corporate governance practices, identifying areas for improvement, and providing recommendations for improvement.

Quality Control Reviews

Assessing the quality of internal audit work, identifying areas for improvement, and providing recommendations for improvement.

Preparation of Audit Reports and Recommendations for Improvement

Preparing audit reports summarizing findings and recommendations for improvement, and presenting them to management for action.

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The Horizon Biz Consultancy Approach to Internal Audits

At Horizon Biz Consultancy, we understand the importance of an effective internal audit service in managing risk and ensuring smooth business operations. We offer a range of Internal Audit Services to our clients with the aim of becoming their trusted business advisor. We offer our clients the opportunity to enhance and augment their existing internal audit capabilities with our comprehensive range of services. We work closely with senior management to help organizations make better strategic decisions and develop high-quality internal audit functions that improve business performance.

Our experienced team that shares expertise in financial and operational audits, business process reviews, risk assessments, IT control reviews, and more, is well-equipped to manage an organization’s existing internal audit capabilities while ensuring compliance with IFRS and ISA. Our approach to internal audits is based on turning risk and compliance into opportunities that enhance organizational value. We believe that effective internal audit services can make a very positive contribution to risk management and the smooth operation of any business. We are committed to providing our clients with accurate and reliable audit reports, as well as recommendations for improvement.

At Horizon Biz Consultancy, we are dedicated to helping our clients achieve their goals and objectives by providing tailored internal audit services that meet their specific needs. We strive to be a reliable partner to our clients and to provide them with the support they need to succeed in today’s complex business environment.

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FAQs

Internal audit is an objective evaluation of an organization’s internal controls to effectively manage risk within its risk appetite. Companies are looking for risk-based internal audit plans to focus on critical areas.

 Internal auditors evaluate risk management, internal control, and governance processes and help ensure compliance with laws, policies, etc.

External audits review financial statements while internal audits focus more on operational efficiency, risk management, and internal controls.

We provide operational audits, compliance audits, financial audits, IT audits, forensic audits, and more based on the client’s needs.

Conducting internal audits at least annually is highly recommended even for small-medium businesses to assess policies, uncover fraud risks, and promote good governance.

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