In terms of internal audit and control assurance Services, how can Ahmed Mamdouh & Co. Kreston Egypt help you?
Good corporate governance, effective risk management and appropriate internal controls are critical for the survival of businesses in today's business dynamics. As a consulting firm, Ahmed Mamdouh & Co. Kreston Egypt provides services that enhance and help clients grow their businesses.
1- Internal Audit Function Services:
For an incorporated business, Boards committees and managers require professional support for their internal audits to ensure the governance and control processes are being carried out correctly and in alliance with the regulator’s requirements. Our help in the internal audits service team will reduce your auditing costs and provide you with more resources to focus on your core operations.
Ahmed Mamdouh & Co. Kreston Egypt external auditors work with clients on:
- Annual identification of the audit universe and preparation of the audit plan to reflect the organization’s strategies and performance.
- Prepare risk assessment, identify critical business areas for management and audit committee members, and develop risk-based internal audit strategic methodology.
- We carry out the internal audit process from the cradle to grave, providing our clients with a tailored approach based on their requirements.
- Our external auditors can provide specialized projects to help clients benchmark their management and governance review against their peers for better industry insights.
- Establishing quality assurance frameworks.
- Implementation of constant auditing applications and data analytics techniques.
- Providing GRC (Governance, Risk and Compliance) audits to help you empower your business to be more resilient to risks.
- Regulatory impact assessment (RIA) to help you assess the positive and negative impacts of regulations on your business and discuss the alternatives.
Our role as one of the leading consulting firms in Egypt is to help business stakeholders implement action plans that help management improve business performance, processes and internal controls.
2- Compliance Services:
Our team works on the client's management and internal control committees to ensure all business units are compliant with the relative regulations, procedures and policies.
- We ensure our client's business complies with different policies and laws locally and globally through our extensive network.
Our team of experts supports our clients in developing and implementing a corporate governance structure to help their business stay in compliance with recognized standards.
- Our compliance services ensure the effectiveness of business operations and the efficiency of corporate performance by helping our clients adapt to a changing regulatory environment.
- We also help our clients anticipate changes in regulations, understand the implications of new laws on their business, design and implement appropriate processes, policies, and procedures to comply with the regulations.
3- Internal Audit Function Advisory:
Ahmed Mamdouh & Co. Kreston Egypt vastly experienced team of external auditors and corporate finance advisory can be outsourced to assist clients in their internal audit process. Our team can either provide tailored consultation and advisory to the clients or provide training for the client's internal team.
Our broad network of auditing experts is aware of all local and international standards of auditing. So, they are able to provide support to clients with all their internal audit requirements in different industries.
4- Internal Audit Unit Evaluation Review:
The Institute of Internal Auditors (IIA), International Standards for the Professional Practice of Internal Auditing, requires companies to conduct an independent quality assessment of their IA function at least once every five years.
Ahmed Mamdouh & Co. Kreston Egypt external auditors are well-equipped and qualified to perform the internal audit evaluation and comply with the IIA standards.
During the internal audit review, our experts will provide consultation services regarding the business's internal audit process, ensuring its effectiveness.
Our services include:
- Assessing the fairness of the department's reporting structure.
-Reviewing every aspect of the business including, business risk assessment, organizational controls and governance process in audit plans.
- Evaluating the performance and efficiency of leadership and team structure.
- Reviewing the accuracy of the methodologies, approaches adopted in performing the internal audit.
- Ensuring the internal control complies with regulations.
5- Risk Assurance Services:
No company, big or small, is proofed against risks, that's why risk assurance service is essential to the sustainability and resilience of the business. At Ahmed Mamdouh & Co. Kreston Egypt, we help businesses navigate through disruption, survive, and help build resilience in their organizations. Our teams assist managers in viewing risks as untapped opportunities, assisting clients in mitigating the risks, and creating value to build sustainable businesses.
Our services include:
- Risk Assessment: risk assessment service assures that the organization's business risks are comprehensive and evaluates that the entity has appropriate systems to manage those risks effectively.
- Developing the risk register: our team helps clients develop a risk register for their business units to fulfill local regulatory compliance and to document all the risks identified and includes all the relative information related to each risk, like the nature of the risk and the precautions measures.
- Update the risk register with the new inputs: we understand the significance of maintaining the risk register updated and actively updating it with newly identified risks.
Why are Internal Audit and Control Assurance Services important for organizations?
- Internal auditing processes are critical for providing objective insight for managers to improve the efficiency of the operations, evaluates risks and protects business assets. It also helps in assessing organizational controls and ensuring legal compliance.
- It helps stakeholders and internal committees make informed decisions, identify potential risks and business growth opportunities.
Maintaining good internal controls help ensure efficient and effective operations that accomplish the business goals and prevent prospect problems.