Internal Auditing

  Internal auditing is one of the most crucial services offered. Its importance has significantly increased following recent developments in regulations and systems within the Kingdom, whether from the Ministry of Finance, the Capital Market Authority, or the Central Bank. These developments necessitate the presence of a competent internal audit department that operates according to international internal auditing standards. While previously applied by a limited number of companies, this has now become mandatory for the government sector.  

Our Internal Auditing Services

  Our internal auditing services include:

• Studying the internal control, auditing systems, and risks.
• Reviewing and evaluating internal controls.
• Restructuring the internal audit department to align with international Internal Audit (IIA) standards and the company’s specific circumstances, based on a cost-benefit analysis.
• Providing management with the study’s results, highlighting strengths and weaknesses in the company’s internal system.
• Offering suggestions to management that would develop and improve the internal control system.
• Reviewing and evaluating existing policies and procedures to ensure they align with the entity’s overall policies.

Establishing an in-house internal audit department is considered a long-term investment that entails significant costs, as it requires highly experienced personnel and a high degree of independence. If an organization is unable to bear these costs, an alternative is to engage an external firm to provide this service. This approach will save clients time and effort in training and resource provision, with fees calculated based on the productive hours of our staff performing the internal audit service.