Internal Audit Services
in Dubai, UAE
Outsourced and co-sourced internal audit for UAE businesses: risk-based audit plans, control testing and clear reports for management and the board, tailored to your industry, size and regulators.
Internal Audit Tailored to Your Business
Failing to manage risks in an appropriate manner can lead to a company’s downfall. As a result, internal audit and risk management must be approached with laser-like focus. Internal audits conducted by Alya are tailored to the industry, size, risk appetite, and regulatory requirements of your organization. The internal audit service we provide is customized to fit into your business model and provide the assurance and guidance you need.
We assist clients in outsourcing/co-sourcing, internal audit transformation, and internal audit start-up, as well as improving internal controls to increase efficiency. With our extensive knowledge, sector specialization, and technical risk skills, we can customize our services to meet your needs.
Our Internal Auditing Service in Dubai Includes
A complete evaluation of the company’s internal management, to identify any problems and rectify them. Management audit →
Evaluates the company’s operations in terms of its efficiency, effectiveness as well as economy and reporting the results to the concerned authorities. Operational audit →
Checks that your business follows the laws, regulations, licence conditions and internal policies that apply to it. Compliance audit →
Reviews VAT and Corporate Tax records and returns for errors before the FTA does. Tax audit →
It is an essential service that seeks to help companies control costs and improve their overall cost efficiency so as to enhance profits. Cost audit →
Physical counts and reconciliations that confirm stock records match what is actually on hand. Stock audit →
As IT is linked to the proper recording, storage and analysis of all financial data, an IT internal audit evaluates the company’s IT systems and controls. IS audit →
Investigation audit is concerned with the identification of any fraud, embezzlement, or mismanagement of the company’s finances by assessing its financial processes. Forensic accounting →
It is concerned with assessing all the financial processes that are linked to the flow of goods and services.
When Do Businesses Need Internal Audit?
- The business has grown faster than its controls
- The board, owners or investors want independent assurance
- You suspect fraud, leakage or stock losses
- You are preparing for investment, a sale or an IPO
- A regulator, lender or parent company requires it
- There is no in-house internal audit team
Ways We Deliver Internal Audit
We act as your internal audit function and report to management or the audit committee.
We work alongside your team, adding specialist skills or extra capacity.
We set up the function: charter, risk assessment and a first audit plan.
We review and document key processes and controls, and recommend improvements.
We modernise an existing function: risk-based planning, data analytics and better reporting.
We check that agreed actions were actually completed.
Impact of Internal Auditing Services on Business in Dubai
- Evaluates Risks. Through a systematic risk assessment, an internal audit program aids management and stakeholders in identifying and prioritizing risks. A risk assessment can assist in identifying any gaps in the environment and allowing for the implementation of a remediation strategy.
- Objective Insight. You can’t audit your own work without having a definite conflict of interest. By providing an independent and unbiased view, the internal audit function adds value to your organization.
- Assesses Controls. Internal auditing is beneficial because it improves the control environment of the organization by assessing efficiency and operating effectiveness.
- Improves Efficiency. By objectively reviewing your organization’s policies and procedures, you can receive assurance that you are doing what your policies and procedures say you are doing, and that these processes are adequate in mitigating your unique risks.
- Increased Productivity. Increase the productivity of an organization by providing quality results within the assigned time. While examining risk management in a company, an internal auditor can detect any suspicious activities or transactions to prevent any financial crimes.
- Developing Benchmarks. An independent auditor can help develop benchmarks that can assist the management and employees in improving their company’s operations. The benchmarks ensure standard performance in the organization and increase in the revenue by maintaining and complying to the accounting standards.
Our Internal Audit Procedure
Know what and when to audit
We identify the processes to audit, focusing more often on the higher-risk areas of the business.
Create an audit schedule
Departments get advance notice and an agreed timetable, so records are ready and the audit runs smoothly.
Pre-plan the scheduled audit
We send each department the audit scope, objectives, criteria and the evidence we will need.
Conduct the audit
We review documents, interview staff and observe processes to test that controls work as intended.
Record the findings
Every finding is backed by evidence, and we share a quick summary with the team before leaving.
Report findings
You receive a clear report with risk-rated findings and an agreed action plan for management.
What Do Internal Audit Services Cost?
Our fee depends on the work involved, mainly:
- Size of the business and number of locations or entities
- Number of processes in the audit plan
- One-off review or ongoing outsourced function
- Industry and regulatory requirements
- Whether processes and controls are already documented
Tell us about your business and we will send a fixed quote, with no obligation.
Internal Audit: Common Questions
What does an internal audit cover?
It reviews how well your processes, controls and risk management work, for example purchasing, sales, payroll, stock, IT and compliance, and recommends practical improvements.
What is the difference between internal and external audit?
An external (statutory) audit gives an opinion on your financial statements for shareholders and authorities. An internal audit looks forward, at processes and controls, for management. Read more in internal vs external audit.
Is internal audit mandatory in the UAE?
Not for most private companies. Listed companies, banks, insurers and some other regulated businesses must have an internal audit function under their regulator’s rules. Many private companies choose it for control and assurance.
Can the same firm be our internal and external auditor?
Independence rules generally restrict a statutory auditor from also acting as the company’s internal auditor. We confirm independence before every engagement. See our statutory audit services.
How often should internal audits be done?
Most businesses work to an annual, risk-based plan, with higher-risk areas reviewed more often, quarterly in many cases.
What do we receive at the end?
A report with risk-rated findings, root causes and an action plan agreed with management, and a follow-up review to check that actions were completed.
Internal Auditing Services in Dubai
starts here.
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