Internal Audit Services
Always be ahead
Internal Audit Services
At Waslat Al-Amal, we deliver exceptional internal audit services by leveraging industry best practices, innovative technology, and data-driven insights.
Key Services Tailored to Your Business’s Needs
Our strategic internal audit models offer specialized talent, advanced methodologies, and cutting-edge technology to meet the evolving needs of internal audit functions, from fully outsourced solutions and delivery centers to tactical staff augmentation.
Risk Assessment and Management
Waslat Al-Amalidentifies potential risks that could impact the organization’s operations, reputation, or financial health using tools such as risk assessments, heat maps, and risk registers to document and prioritize these risks.
We develop strategies to mitigate identified risks, implementing controls to prevent, detect, and correct issues. Our approach includes continuous monitoring and review of risks and the effectiveness of mitigation strategies, adjusting controls as necessary to respond to new or evolving risks.
Compliance Audits
Waslat Al-Amalensures the organization complies with relevant laws, regulations, and industry standards by conducting audits to verify adherence to policies such as GDPR, HIPAA, SOX, and others. We assess the adequacy and effectiveness of internal policies and procedures, recommending improvements to align with best practices and regulatory requirements.
Operational Audits
Waslat Al-Amalevaluates the efficiency and effectiveness of business processes, identifying opportunities for process improvements and cost savings. We assess whether the organization meets its performance goals and objectives, providing insights into operational performance and suggesting areas for improvement.
Financial Audits
Waslat Al-Amalensures the accuracy and compliance of financial statements and reports with accounting standards by reviewing them meticulously, identifying discrepancies, and recommending corrective actions.
Additionally, we assess the effectiveness of internal controls over financial reporting and suggest improvements to enhance the reliability of financial information.
Fraud Audits
Waslat Al-Amalidentifies potential fraud risks and scenarios within the organization, implementing procedures to detect and prevent fraudulent activities. We conduct thorough investigations into suspected fraud incidents and recommend actions to address and prevent future occurrences.
Follow-Up Audits
Waslat Al-Amalfollows up on audit recommendations to ensure they are implemented effectively, verifying that corrective actions have been taken and have addressed the identified issues.
Advisory Services
Waslat Al-Amalprovides strategic advice on risk management, internal controls, and governance, assisting in the development and implementation of risk management frameworks. We also offer training programs to enhance the skills and knowledge of internal audit staff and other employees, developing customized training sessions on specific audit or compliance topics.
Benefits of Waslat Al-Amal
Internal Audit
Ready to take control?
Ready to take control of your financial future? Contact Waslat Al-Amalto learn more about our investment strategy and management services and how we can help you achieve your financial goals.
