Internal Audit
Reviewing and Implementing the Internal Control System and Reporting to Management: Having a strong internal control system and implementing it as envisioned by the company’s management plays a significant role in the success of every business.
Since activity auditing is not limited to accounting transactions alone but also encompasses other business functions, its scope is extremely broad. The scope of activity auditing may include the organization’s organizational structure, production methods, marketing policies, and information processing activities.
Although it is impossible for a business to exist without internal controls, the internal controls designed must be effective and designed to respond to various risks.
Internal auditing plays a significant role in achieving company objectives by ensuring the effectiveness of the company’s risk management, control, and corporate governance processes.
For companies:
- If it is desired to audit whether internal controls are designed to meet business needs,
- If the internal audit function is to be performed with support from an external source,
- If it is desired to restructure internal audit by identifying business risks and taking into account constantly changing business practices,
an internal audit is needed.
In collaboration with our experts, we review the reliability of the company’s internal control system and verify whether it is operating as effectively as expected. We develop proposals for resolving identified weaknesses and non-compliant internal controls and present them to senior management in the form of a recommendation report.
We can mention the stages of internal audit as follows:
- Business risks are identified.
- The adequacy of existing internal controls to address business risks is assessed.
- The implementation of internal controls is tested.
- A report is prepared regarding internal control weaknesses.
- A report is submitted to management with recommendations for improving internal controls.
Independent audit services:
Independent review of financial statements.
We closely follow legal regulations relating to accounting and auditing standards and apply current audit methodology generally accepted worldwide.
Preparing corporate reporting packages.
It includes preparing tables, charts and analyses containing various performance indicators to be presented to the senior management of the organization.
Fraud investigations.
Fraud auditing is the determination of whether employees of a company have intentionally engaged in deception in order to obtain illegal benefits for themselves.
Compliance audit.
As a result of the compliance audit, full compliance with internal directives and legal requirements was ensured.
Activity audit.
It reveals whether a company is generally effective in its activities, it also helps measure whether the company is successful in achieving its goals.
Productivity audit.
Auditing activities is not limited to accounting transactions alone but also includes other functions in the business, so its scope of application is very broad.
Internal audit.
Reviewing and implementing an internal control system is crucial for business success, as it ensures effective reporting to management and aligns with their vision.
Sales audit.
Review business volume, sales privileges linked to business volume, franchise rights, sales agencies, distribution agencies, shopping mall rental fees, etc. within the scope of contracts.
Other insurance services.
Many institutions and regulatory organizations today require limited assurance reports on financial and other issues identified by legislative regulations.
