Methodology for Internal Audit

• Risk Assessment:
  Engrel conducts a thorough risk assessment to identify potential vulnerabilities and ensure the internal audit addresses key areas of concern within your business processes.


• Control Evaluation:
  Engrel assesses the effectiveness of existing internal controls, recommending enhancements to mitigate risks and improve operational efficiency.


• Compliance Verification:
  Ensuring adherence to industry regulations and internal policies, Engrel's internal audit service verifies compliance to safeguard against legal and regulatory issues.


• Financial Statement Review:
  Engrel meticulously reviews financial statements, validating accuracy and reliability to provide stakeholders with a clear and transparent view of the financial health of the organization.


• Recommendation and Improvement:
  We identify areas for improvement and provides actionable recommendations, guiding your business towards enhanced internal controls and operational excellence.

Internal Audit – Explained

• Risk Assessment:
  Engrel conducts a comprehensive risk assessment to identify potential vulnerabilities within your business processes. Our expert internal auditors analyze various aspects of your operations to understand and prioritize potential risks. This includes evaluating financial processes, regulatory compliance, information security, and other critical areas. The goal is to ensure that the internal audit process addresses key concerns, allowing for a focused and effective audit.


• Control Evaluation:
  Engrel assesses the effectiveness of existing internal controls within your business processes. This involves a detailed examination of the controls in place to mitigate risks identified during the risk assessment. The internal auditors at Engrel recommend enhancements to strengthen controls, thereby improving operational efficiency and reducing the likelihood of errors, fraud, or non-compliance.


• Compliance Verification:
  Engrel's internal audit service ensures adherence to industry regulations and internal policies. This process involves verifying compliance to safeguard against legal and regulatory issues. The internal auditors at Engrel meticulously review processes, documentation, and practices to confirm that the business operates within the boundaries of relevant laws and regulations.


• Financial Statement Review:
  Engrel meticulously reviews financial statements to validate accuracy and reliability. This process is crucial for providing stakeholders with a clear and transparent view of the financial health of the organization. The internal auditors at Engrel ensure that financial statements adhere to accounting standards, are free from material misstatements, and provide a true reflection of the organization's financial position.


• Recommendation and Improvement:
  Engrel identifies areas for improvement through the internal audit process and provides actionable recommendations. This step is crucial for guiding your business towards enhanced internal controls and operational excellence. The internal auditors at Engrel collaborate with the organization to develop practical solutions that address weaknesses, streamline processes, and contribute to overall improvement.

Internal Audit Solutions

Engrel is a leading provider of internal auditing services, offering a wide range of solutions to help organizations overcome the challenges they face in today's competitive global marketplace. Our team of experienced professionals is dedicated to assisting companies in achieving their strategic goals and improving their internal audit function.

Helping you face your financial challenges

One of the key challenges organizations face is effectively managing and mitigating risks. Engrel can assist by participating in corporate governance and risk management processes, focusing on key risk areas, and providing recommendations for improvement. By conducting strategic performance and quality assurance reviews, we can help validate stakeholders' expectations, assess current internal audit structures and methodologies, and identify opportunities for enhancement.

Engrels Professional Audit Services

Engrel also offers strategic capability building and outsourcing services, which can provide companies with access to experienced auditors, technical and industry specialists, and best practice tools and methodologies. This can help organizations enhance their internal audit capabilities and align them with corporate goals. We can assist in developing or enhancing policies and procedures manuals to improve the internal control environment within the organization. By conducting cost reduction and efficiency improvement reviews, we can help improve operational efficiency and competitiveness by applying best practices to business processes and controls. With dedicated internal audit groups in major business centers worldwide, we have a global network of experts monitoring and analyzing international developments. This allows us to provide our clients with the latest insights and guidance to navigate the rapidly evolving global business landscape.