Internal audit is an internal, proactive function that improves processes and controls for management's benefit. External audit is an independent, periodic function that verifies financial statements for stakeholders, like investors and regulators.

The three main types are: financial audits (checking accuracy and compliance), operational audits (evaluating efficiency and effectiveness of processes), and compliance audits (ensuring adherence to laws, regulations, and policies).

The key benefits include enhanced financial controls, improved risk management, optimized business processes, and better governance. Our services foster a culture of transparency and accountability, contributing to the overall strength and resilience of the business.

We help manage risk by providing a proactive assessment of financial, operational, and regulatory threats. Our teams identify potential vulnerabilities and provide practical, actionable recommendations to minimize our exposure, protecting the business from unforeseen issues.

Internal audit is vital because it offers unbiased assurance and helps mitigate risks. We proactively assess threats, provide actionable recommendations, and enhance financial controls, allowing us to make informed decisions and safeguard our company's future.

The seven key principles are: integrity, objectivity, confidentiality, competency, due professional care, communication, and risk-based approach. These principles ensure the audit function is effective and ethical.

The main objectives are to evaluate and improve the effectiveness of risk management, control, and governance processes. We provide assurance that controls are working and help the organization achieve its goals.

Internal audit is an independent function that provides assurance and consulting services. Its purpose is to add value and improve an organization's operations by bringing a systematic, disciplined approach to evaluating and enhancing risk management, control, and governance processes.

The process generally involves four steps: planning (defining the scope and objectives), fieldwork (gathering and analyzing data), reporting (communicating findings and recommendations), and follow-up (monitoring management's implementation of corrective actions).

Key characteristics include independence, objectivity, a systematic approach, and a focus on adding value. Internal audits are forward-looking, risk-based, and aim to improve an organization's controls and processes.