Internal Audit Services

Getting our internal audit service means you can get an independent, objective assurance on operations, internal control, risk management, and compliance in your company. Such assurance will give you feedback about effectiveness and efficiency. You will also get consulting by being advised on how you can achieve better effectiveness and efficiency in those areas. Such a service will play a vital role in helping your company improve its operations and achieve its objectives.

Why choose Al-Sharid as your internal auditor?

Having got a team of experienced, qualified internal auditors in different industries and an extensive history of working in UAE, means we can match you with the most suitable team of internal auditors that you’re looking for. You’ll love talking to our internal auditors that have been contributing to the success of our clients within your industry.

We have enough bookkeeping team members to handle any volume of transactions.
Whether you decide to outsource your bookkeeping function or not. We also have a sophisticated team of accounting specialists that can help you in the preparation of financial and operational reports, adjusting entries, cost accounting support, building your fixed asset schedule and other necessary subsidiary records or even maintaining them.

Our approach to providing internal auditing services

Long known for its effectiveness in achieving the internal audit objectives, risk based internal audit, is the approach that we use in conducting our internal auditing services.

Under such an approach, our internal auditors have to gain a deep understanding of your company’s strategies, goals, and objectives, conduct an up-down analysis of external and internal factors that affect your company’s ability to achieve those goals, and address the most critical risk. A risk is anything that holds your company back from achieving its goals.

They could be:

Operational risks
Risks of financial reporting fraud and error
Misuse of assets risks
Financial risks
AML/CTF risks
Compliance risks profession.

Our internal auditors suggest improvements in your internal policies, processes, and procedures using their extensive experience in your industry and the applicable provisions of world-class internal control frameworks. Our internal auditors also comply with the International Professional Practice Framework (IPPF) which demonstrates our dedication to the

Our team of experts has the right experience and knowledge to help your company achieve its objectives

Can I appoint you as my internal auditor if I plan to appoint you as my external auditor?

When a public accounting firm provides internal audit services, it is considered as a consulting service. Depending on the nature and extent of our advisory services and which of our team members we’ll have used in the provision such services, we’ll use our professional judgment to decide whether providing a financial statement audit service to you will constitute a breach of the provisions of the International Code of Ethics for Professional Accountants (“the Code”). Al-Sharid does comply with the International Code of Ethics for Professional Accountants. Therefore, we always decide to avoid threats to compliance with the fundamental principles of the Code such as the self-review threat as defined in the 120.6 A3 paragraph of the Code. Therefore, kindly give us a call so we can discuss your situation.

Are internal auditors concerned with AML/CTF?

Typically, depending on the size of your company and whether or not it is one of the defined types of companies in the relevant regulations (such as financial institutions), there could be an AML/CTF compliance department in your company. Internal auditors’ scope in such a case is not to conduct the work done by compliance officers, but instead to ensure the relevant AML/CTF procedures have been correctly implemented, are still effective, and all further risks are addressed.