Outsourcing of Internal Audit Function
It Makes More Sense!

Outsourcing has never been this easier. Look at it this way, it makes more sense! Who wants to employ and teach people over and over again? We see many companies doing it over and over again, everyday. Be smart, save your advertisement costs and leave Internal Auditing (IA) to us. We will give you a better more sensible cost effective solution to your IA needs!

Ever since the changes in the Bursa Malaysia requirements, the introduction of Malaysian Code of Corporate Governance, the introduction of Guidelines of the Internal Audit Function, Internal Auditors have redefined their crucial role by providing not only independent, objective assurance but also consultancy in risk management, internal control and governance processes. 
 

Internal auditors are the core process of any company and seek to assist in achieving the company long term objective in realising shareholder value and protecting the interests of other stakeholders in the company.

The Malaysian Code of Corporate Governance states that it is best practice for a company to establish an Internal Audit Function. Although the Bursa Malaysia requirements has only made existence of the Audit Committee compulsory and not the Internal Audit Function, the majority of the Audit Committees will have to comprise of independent directors. These independent directors will have to rely on the Internal Audit Function to help them discharge their responsibilities pertaining to risk management, internal controls and corporate governance.

For more info on Malaysian Corporate Governance, click here:

• reducing and controlling indirect costs*        
• improving institutional focus*  
• organisational strategy*  
• gaining access to reputable/renowned management and technical capabilities*       
• ensuring continuity and consistency
• IA to be conducted by independant party      

   

(* According to Guidelines on IA Function issued by IIAM)  

 Click here to surf the IIAM  

Our audits are risk based and are carried out with stringent risk assessment and analysis with the client. We will integrate COSO (Committee of Sponsoring Organisations of the Treadway Commission) Internal Control Framework in our audits and utilise it for assessing the adequacy and effectiveness of the company risks and internal control processes. This approach seeks to comply with the Bursa Malaysia's Listing Requirement para 15.27 (b) on the issuance of Statement of Internal Control.    

According to COSO, Internal Control-Integrated Framework, there are 5 essential components of an effective internal control system:

• The Control Environment
• Risk Assessment
• Control Activities
• Information & Communication
• Monitoring

All the above components are integrated into our audit process, fieldwork and final reports.