– Improve operational efficiency.
– Optimization of resources.
– Assessment of risks that can adversely affect the company.
– Protection of the company’s assets.
– Ensure that the establishment complies with the laws and regulations of the United Arab Emirates.
– Evaluating the effectiveness of the company’s internal systems and controls.
– Ensuring the safety of the financial and economic operations of the enterprise.
– Ensuring the optimal use of the company’s resources.
The first stage is planning, during which the audit policy of the enterprise is determined.
The second stage is: review and revision.
At the third and final stage, the process of preparing the report and submitting it to the management of the enterprise is completed after the audit is completed.
– Internal audit process planning: to ensure the success of the internal audit process, good planning is essential.
– This planning process also includes many stages and questions that should be asked during the planning stage of the internal audit process ،
– The required audit objectives and the time required to complete the audit are determined.
– Usually after the end of the planning stage, a meeting is held with the client to provide him with preliminary information about the plan. Then the second stage of the audit begins: audit and audit.
– Audit and audit are the basis of the internal audit process, which is the beginning of the audit and audit of the operations of financial institutions from taking inventory, reconciling accounts, evaluating internal control procedures.
– It also focuses on verifying the employees ‘ compliance with the company’s internal regulations, and ensuring that the company’s financial and economic operations are free from any manipulation or fraud .
– After the audit team has completed the audit and review process, a comprehensive report on the audit process is prepared and submitted to the facility management.
– Submission of reports from time to time, the auditor may submit an interim report before the final report if the auditor believes that the matter requires management knowledge of something, but if the interim report is not required, he sends a draft report and holds a meeting with the facility management to get acquainted with the details of the report.
– At the end of the internal audit phase, the audit team submits a report summarizing the audit and audit process. It comes in the form of an official report.
– The final internal audit report includes the methodology used to complete the internal audit process, as well as recommendations to help the plant improve operational control procedures.
