What is internal audit?
The role of internal audit is to provide independent assurance that an organisation's risk management, governance and internal control processes are operating effectively. Internal Auditors have a professional duty to provide an unbiased and objective view, must be independent from the operations and report to the highest level in an organisation, typically the board of directors or the audit committee.
To be effective, internal audit must have qualified, skilled and experienced people who can work in accordance with the Code of Ethics and International Standards.
Internal auditors deal with issues that are fundamentally important to the survival and prosperity of any organisation. Unlike external auditors, they look beyond the accuracy of the financial statements to consider wider issues such as the organisation's reputation, financial wellbeing, growth, impact on the environment and the way it treats its employees.
In other words internal auditors help organisation’s to succeed and survive through a combination of assurance and consulting involving advising managers and governors how well the systems and processes designed to keep the organisation on track are working and helping to improve those systems and processes where necessary.
How can we help ?
At Fraudintegrity Simon Padgett has over 20 years of experience in Internal Audit. He has been the Head of Internal Audit for two publicly quoted companies as well as Head of Internal Audit for the largest family owned conglomerate in The United Arab Emirates. Simon ensures that the Internal Audit function adds value to the organization be ensuring that it takes a risk based approach and includes a corporate governance compliance function and full fraud risk management.