Internal Audit

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Managing a company is a difficult task. Aside from running the company, it also involves developing new ideas that can help improve internal processes, make operations more efficient, and increase the effectivity and productivity of employees. However, in order to find out ways and means for your company to grow, you must first determine the areas of your company that need to be improved upon. This entails running an internal audit. Dubai businesses can benefit from an internal audit, as it helps in detecting and preventing cases of fraud; testing whether or not internal control systems are working; and monitoring the level of compliance with company policy and government regulation.

If you are running a start-up, you want your operations to be as lean as possible. You do not want to be carrying around excess baggage you can do without. This rings true, regardless of the size of your company. Wasted resources are lost opportunities, in the bigger picture. With an internal auditor, UAE businesses can better focus on the processes that help in generating profit, while eliminating systems that are profit sinkholes.

Multi-pronged purpose

Companies around the world lose millions annually to employee theft. Companies fall victim to fraudulent acts such as skimming payments, theft, improper use of company credit cards, and cheque tampering. Some companies lose resources due to improper payroll transactions. With an internal auditor, UAE businesses can also regularly monitor current policies and procedures to ensure that the company is kept safe from fraud. An operational audit can also help improve company processes. By identifying the areas where operational processes are encountering problems, businesses can focus on developing new processes that maximize resource allocation and promote operational efficiency.

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