INTERNAL AUDIT AND ASSURANCES SERVICES
Boards, Risk Committees, Shareholders, Employees and other stake holders have prominent concerns regarding risk management, governance, safety of investment, business continuity and achievement of business objectives. Concerns such as:
Have the risks facing the organisation been identified and are they being managed?
Are there any unaddressed high risks that could result in injury, death, financial loss, environmental damage or reputation damage? What's being done about them?
Have implemented frameworks, policies and processes been designed effectively and are they operationally effective?
Narcons' internal audit and assurance methodology aims to answer these key concerns and many more. Our risk based audit methodology aims to provide objective assessments of these higher risk areas, those that keep you awake at night. We provide the independence, objectivity and expertise to ask the hard hitting questions and obtaining the root cause of why something has failed or could fail. Exposures, might they be financial, operational, strategic, environmental, safety or purely the lack of governance are easily highlighted. Our approach is such that in addition to pure risk management solutions, identification of opportunities for improving business processes, performance and efficiencies are natural outcomes.
Our top down approach initially identifies the main risks to the organisations and targets areas where assurance is required. The most important stage of any assurance review may it be an strategic, operational, financial, IT or compliance process is the planning stage. We aim to do this thoroughly to ensure that we cover the correct areas, systems and processes. We take the old, time tested adage quite seriously, "if you fail to plan, you plan to fail".
Our approach varies with the type of review and would include a thorough understanding of the framework, systems, roles and processes. The veracity of control, compliance or risk management frameworks, identification of risk and associated controls and the effectiveness of control design and operation are suitably documented and assessed. Data analytics forms a huge part of the planning and execution phase of our assurance work. Data speaks volumes and the querying of it allows us to provide assurance on a larger sample as well as provides us with opportunities to red flag, identify trends and analyse outcomes.
When it comes to reporting we put ourselves in the audience's shoes and provide a report that is easy to read and understand and provides what the audience wants. The report aims to address the requirements of stakeholders as agreed in the planning phase and clearly report the findings, root causes, risks and agreed remediation. This is at the operational area level. As we own and take responsibility for our report we generally find that reporting and presentation at Audit Committee meetings is a seamless exercise.
In summary, our experience, expertise and methodology provides you with the assurance that you are in good hands with committed individuals and the comfort that the highest professional standards are utilised.
Have the risks facing the organisation been identified and are they being managed?
Are there any unaddressed high risks that could result in injury, death, financial loss, environmental damage or reputation damage? What's being done about them?
Have implemented frameworks, policies and processes been designed effectively and are they operationally effective?
Narcons' internal audit and assurance methodology aims to answer these key concerns and many more. Our risk based audit methodology aims to provide objective assessments of these higher risk areas, those that keep you awake at night. We provide the independence, objectivity and expertise to ask the hard hitting questions and obtaining the root cause of why something has failed or could fail. Exposures, might they be financial, operational, strategic, environmental, safety or purely the lack of governance are easily highlighted. Our approach is such that in addition to pure risk management solutions, identification of opportunities for improving business processes, performance and efficiencies are natural outcomes.
Our top down approach initially identifies the main risks to the organisations and targets areas where assurance is required. The most important stage of any assurance review may it be an strategic, operational, financial, IT or compliance process is the planning stage. We aim to do this thoroughly to ensure that we cover the correct areas, systems and processes. We take the old, time tested adage quite seriously, "if you fail to plan, you plan to fail".
Our approach varies with the type of review and would include a thorough understanding of the framework, systems, roles and processes. The veracity of control, compliance or risk management frameworks, identification of risk and associated controls and the effectiveness of control design and operation are suitably documented and assessed. Data analytics forms a huge part of the planning and execution phase of our assurance work. Data speaks volumes and the querying of it allows us to provide assurance on a larger sample as well as provides us with opportunities to red flag, identify trends and analyse outcomes.
When it comes to reporting we put ourselves in the audience's shoes and provide a report that is easy to read and understand and provides what the audience wants. The report aims to address the requirements of stakeholders as agreed in the planning phase and clearly report the findings, root causes, risks and agreed remediation. This is at the operational area level. As we own and take responsibility for our report we generally find that reporting and presentation at Audit Committee meetings is a seamless exercise.
In summary, our experience, expertise and methodology provides you with the assurance that you are in good hands with committed individuals and the comfort that the highest professional standards are utilised.