Internal Audit

Internal auditing: What is it?

Internal auditing’s overarching objective is to improve a company’s effectiveness, profitability, and ability to make crucial decisions.


A business might, as an example, request an internal audit of its inventory management system. The inventory tracking system would be examined by the auditor to determine whether it accurately reflects the supplies that a company has on hand and whether there are any delays or inconsistencies.


Internal auditors are corporate personnel that offer unbiased, independent reports on a firm’s operations, finances, and management procedures. Their objective is to deliver insights and assessments of performance that are accurate and unaffected by internal influences such as office politics.


Having an audit trail is one technique to simplify internal audits. Aforementioned is a list of events in chronological order, financial records with dates and timestamps, and information on operational choices. If data set out in this order, it will be simple for an auditor to identify trends or to access specific data that will enable them to identify issues or determine where errors occurred.

Advantages of internal auditing

Internal auditing can offer a company a number of benefits when backed by organized data and competent auditors.


Enhance decision-making: Internal audits can identify particular issues and provide information to decision-makers that can be used to guide their strategy and evaluate potential fixes.


Identify operational issues and inefficiencies via internal audits to improve operations and efficiency. Audits give insights into the issue’s origin because they take a close look at particular areas. The organisation can conduct another internal audit after making changes to determine whether the new policies and practises have produced the expected outcomes.


Define and reduce risks by considering their effects and their likelihood of occurring. Internal audits can help with this. Decision-makers can take action to mitigate the risk, decrease the likelihood that it will occur, and lessen the potential repercussions once they are aware of it.

Ensure compliance and success in external audits:  Internal audits can identify difficulties with reporting or compliance by resembling the procedure of external audits. A business can prevent potential fines or penalties by identifying these issues and fixing them.

Why choose SS&CO for your auditing needs?

Our skilled auditors and accountants provide high-quality audits in accordance with the regulations and laws of the  Middle East based on the business demands of our clients.


To keep our audits ahead of consumer expectations, we continually invest in cutting-edge technologies and human resources.


  • Industry-leading knowledge
  • Largest industry partner and service supplier network
  • One-stop shop for company support services, including payroll, audits, accounting, tax guidance, bookkeeping, and aid with VAT registration and corporation tax compliance

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