Certified Internal Auditor: How Can They Help?

Certified internal auditor provides an objective and unbiased view of an organization’s

operations, being independent of the company operations being evaluated. A report is given to

the administration of an organization e.g. governors, senior managers, the board of directors or

trustees and audit committee.

For an internal audit to be effective, only a certified internal auditor is to perform the activity as

the expert is skilled, experienced, and qualified on top of having the ability to work in

accordance to International Standards on Auditing.

The roles of a Certified Internal auditor in UAE include the following:

Evaluate company management and processes

One of the important roles of an internal auditor is evaluating the processes and management of

an organization.

The internal auditors in Dubai will be able to point out any weakness of an organization e.g. in

the operations or internal controls of the company. So, the management can use these insights to

better the chances of achieving their goals.

Internal controls are adopted by management to enhance the processes and procedures of an

organization and meet its goals and objectives effectively. Internal controls also help to reduce

the risk of fraud and enhance risk management. This is done through:

• Risk assessment – Assisting management to identify and prioritize areas or processes

that require attention and focus

• Control assessment – Identifying weaknesses with business practices and suggesting

improvement opportunity

• Testing – Performing tests to verify whether controls are working as designed

• Reporting – Providing reports on observations and recommendations to improve

processes and controls

Maintaining compliance

If you are in the UAE, your business is governed by local regulations which is why it is

important to ensure that you are implementing all of the necessary activities to maintain

compliance. Most companies in the UAE have compliance requirements that need to be met for

payment processing and other aspects of running a business.

Reduce the risk of fraud

Regardless of your industry, it is necessary to be proactive to protect your company against the

risk of fraud. A certified internal auditor in Dubai will be able to identify any errors or issues that

have already happened. At the same time, weak points in the system can be located to reduce the

chances of fraud in future. It is important that protection is put in place to minimize the

opportunities for theft and scams. Internal audit not only protects against dishonest activities of

employees and customers but can also reduce cybersecurity concerns.

Provide accurate financial statement

An audited financial statement offers a bog value by putting your investors at ease for accuracy

of financial information, giving them confidence that your books of accounts are accurate.

Lenders will also view your company as more reputable, leading to lower interest rates when

borrowing.

When a qualified auditor performs an audit. The financial statements including various

accounting documents. such as accounts payable and expenses reports. These documents will be

examined to be sure a business is following generally accepted accounting principles. The

internal auditor will also provide a qualified opinion on these statements. Which will help you

make informed decisions in relation to the finances of the business. And leading to greater

success and increased profits.

Increase the value of a company by improving the performance

Another role of an internal auditor is providing critical analysis of company efficiency. This is

another way wherein employing approved auditors can actually save your business money over

time. An auditor can determine whether or not your products and services are marketed at

competitive rates. And will also meet your short- and long-term financial goals in addition to

ensuring that vendor contracts are providing the best value and services.

Audit services in UAE

Choosing the right auditor is a decision that’s important as you will be working with the expert

year after year. The auditor’s insights are also integral to the success of an organization

What happens during an internal audit?

Internal audit is a function that helps to assess an organization performance or execution of a

process against a number of standards, policies, metrics or regulation. An internal audit involves

the examination of a business internal control around the organization.

How long does an internal audit take?

The length of time taken to complete an audit varies significantly. Generally, the time required

for the audit will vary depending on the size, complexity, and strength of the organization’s

internal controls.

Why is it mandatory to have an internal audit?

Audit requirement for organizations depends upon the respective regulations and laws that

govern the organization.

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