Our experience in the field of internal auditing is varied and rich in years, and encompasses almost all branches of the economy, which enables us to perform internal audits for almost every entity. The firm’s work method and its emphases when performing the internal auditing work are based on a broad view of the audited entity’ interests.
The work is planned in cooperation with the audited entity’s management, including thinking on how to improve the efficiency of the audited entity’s functioning and to control the processes therein.
We aspire to a situation in which our work will serve as the long arm of the audited entity’s management in order to ensure execution of its policy and procedures.
It is generally accepted that the internal auditor performs a Risks Survey in order to map the audit risks in the organization. This survey is performed at the beginning of the auditor’s work with the organization, and subsequently – every few years. The survey is required in order to enable the auditor and the company’s management to study the weak points and the risks existing in the system, as well as to monitor the audited organization.
A risk survey is performed according to professional standards customary in developed countries. The work methods used for performing the survey rely on the study of risk factors, and the probability and severity of risk scenarios. The internal audit work is based on a multi-annual work plan derived from the results of the survey.
The priorities in the multi-annual plan, which are usually determined jointly by the management of the audited entity, the Audit Committee and the internal auditor, dictate an annual work plan, focusing on fields where it is possible to achieve economy and lower costs.
During our work we make sure to enable the relevant managers in the organization to share in the auditing process, the findings and the conclusions.
Following the report, the management of the audited entity and the audit committee make a series of decisions on changes required. From the aspect of the internal audit, the process ends after following up on implementation of the decisions taken in light of the audit report.
FirmThe Team of the department specializing in internal auditing possess appropriate education and rich experience in the field. The internal audit work, by its nature, requires relatively high involvement by a partner. Accordingly, for each audited entity a partner is appointed who is responsible for the work, and it is he who directs and closely monitors the team in its work.
The fact that the internal audit team is specific to this field alone, makes it possible to perform the work in the most professional manner and with maximum efficiency. Due to the experience accumulated by the partners and the department personnel in the field, the internal audit, which is sensitive by nature, can be performed pertinently and clearly, and without personal damage to the audited entity.