The Institute of Internal Auditors (IIA) defines Internal Audit as an “independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes”. The core objective of Internal Audit is to evaluate and improve the effectiveness of:
- Risk Management
FAMCO experts assist their clients in the achievement of internal audit objectives through FAMCO risk-based methodology that is in-line with the International Professional Practice Framework (IPPF), that is performed by expert professionals with a detailed understanding of the business industry and the associated risks and business processes. The goal of the Internal Audit activity is to assure that the implemented controls are adequate to mitigate risks to an acceptable level to achieve the organization’s objectives.
How we can help?
At Famco, we ensure that our clients get a customized service that addresses their needs by providing a team of experts that have a complete understanding of business processes and the client’s industry. Our experts have a detailed knowledge of the Core Principles for Internal Auditing, code of ethics, and international standards. Following are the key services offered:
- Internal Audit Strategy and Effectiveness Review
- Internal Audit Outsourcing and Co-Sourcing
- Internal Audit Quality Assurance Review (QAR)
- Internal Control Review (ICR)
- Enterprise Risk Management (ERM)
- Information Technology / Cyber Security Internal Audit
- Policies and Procedures