INTERNAL AUDIT SERVICES

Welcome to NasMats Business Consulting, where we drive success through exceptional internal audits. Our experts help you navigate risk and compliance, uncover opportunities, and strengthen defenses.

At NasMats, we go beyond the basics to optimize performance and fuel innovation. Our tailored recommendations enhance governance, risk management, and compliance.We align with your strategic goals, working as an extension of your team to improve regulatory compliance, mitigate risks, and boost efficiency.

Excellence is our standard. Trust NasMats to deliver value, inspire confidence, and ensure sustainable success. Contact us today to unlock your organization’s full potential.

  • Some of the roles we perform for our clients include:

    • Conduct comprehensive assessments of existing internal control systems.

    • Identify weaknesses, inefficiencies, and potential risks within the organization.

    • Develop tailored strategies and recommendations to enhance internal controls and mitigate risks.

    • Provide expert guidance on regulatory compliance and industry best practices.

    • Offer specialized training programs to strengthen internal audit capabilities within the client's organization.

    • Deliver ongoing support and advisory services to ensure sustained improvement and compliance.

    • Facilitate communication between stakeholders, management, and regulatory bodies regarding audit findings and recommendations.

    • Conduct periodic reviews and evaluations to measure the effectiveness of implemented controls and strategies.

    • Assist in the implementation of technological solutions to streamline audit processes and enhance data analytics capabilities.

When engaging our clients we follow a step-by-step process for implementing the internal audit function in an entity, up to the reporting stage. We ensure a systematic and comprehensive approach to establishing and operating the internal audit function within your organization, ultimately enhancing governance, risk management, and internal controls.

    • Conduct an initial assessment of the organization's structure, operations, and risk environment.

    • Identify key stakeholders and establish communication channels.

    • Develop a comprehensive internal audit plan aligned with the organization's objectives and risk profile.

    • Define the scope, objectives, and responsibilities of the internal audit function.

    • Develop and implement internal audit policies, procedures, and methodologies.

    • Establish reporting lines and governance structures, including the formation of an audit committee if necessary.

    • Determine the human and technological resources required to support the internal audit function.

    • Recruit and/or train internal audit staff, ensuring they possess the necessary skills and expertise.

    • Procure any necessary tools or technologies to facilitate audit processes and data analysis.

    • Perform a comprehensive risk assessment to identify and prioritize key risks across the organization.

    • Engage with management and key stakeholders to understand their perspectives on risks and controls.

    • Develop a risk-based audit plan, focusing on areas of highest risk and significance to the organization.

    • Execute planned audit engagements in accordance with established methodologies and standards.

    • Conduct fieldwork, including testing of controls, gathering evidence, and documenting findings.

    • Communicate with process owners and management to validate findings and obtain necessary information.

    • Prepare clear and concise audit reports that communicate findings, recommendations, and action plans.

    • Present audit results to relevant stakeholders, including management and the audit committee.

    • Facilitate discussions on audit findings, addressing any questions or concerns raised by stakeholders.

    • Track the implementation of audit recommendations and monitor progress over time.

    • Conduct follow-up audits to assess the effectiveness of corrective actions taken by management.

    • Provide ongoing support and advisory services to help management address emerging risks and challenges.

    • Evaluate the effectiveness of the internal audit function through periodic self-assessments and quality assurance reviews.

    • Incorporate feedback from stakeholders and lessons learned from past audits to refine audit processes and methodologies.

    • Stay abreast of emerging trends, regulations, and best practices in internal auditing to continuously enhance the value delivered to the organization.

At NasMats, we elevate internal audits beyond mere compliance, safeguarding your integrity, optimizing performance, and driving innovation with deep operational insights and tailored strategic recommendations.