Saward Dawson is a long established firm with extensive experience in the provision of audit and related assurance services to both the for-profit and not for profit sector.
Our internal audit process is an independent, objective assurance activity designed to add value to our clients by:
|Bringing a systematic and disciplined approach to business risk evaluation|
|Improving the effectiveness of risk management process|
|Improving the effectiveness of internal control process|
|Providing skill development at senior management and audit and finance committee level|
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organisation's operations. It assists organisations to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
An effective internal audit activity adds value to an organisation through recommending improvements in areas where opportunities or deficiencies are identified. It also provides assurance to various stakeholders of the organisation.
The main areas where internal audit adds value is through assessing an organisation's risk exposures in relation to:
|Effectiveness and efficiency of operations|
|Reliability and integrity of financial and operational information|
|Safeguarding of assets|
|Compliance with laws, regulations, and contracts|
Differences between internal and external audit
There are significant differences between Internal and External audits. External auditors focus on the accuracy of the annual report and financial statements whereas the internal auditor has a wide reaching brief which considers anything which might be important to an organisation's success.