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Internal Audit Service

There are typically two reactions once management announces an internal audit will be conducted. The first is fear, with its attendant questions. Have we done something wrong? Is there a broken process in our company? Are we out of compliance with current laws and regulations? How much does it cost to fix such issues? Secondly, is the size rationale: “Why do we need an internal audit, since we are a small company? We are not a large, listed entity!”.

What is an internal audit?
“Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.”

Definition of Internal Auditing, Institute of Internal Auditors (2009)

Why would you want to do an internal audit?
Answering the second question, there is significant value for even smaller entities to undergo a periodic audit:

  • To validate existing activities and processes are actually operating, rather than assume they are functioning as intended
  • To identify areas of potential improvement and identify where to focus scarce resources, developing action plans to correct the biggest pain points
  • To assist implementation and monitoring of action / project plans
  • To sharpen focus on critical areas operate and mitigate risk of oversight

Any company that has future plans to go public should proactively implement a forward thinking internal audit plan today to minimize the risk and difficulty of reactively implementing a backwards facing remediation plan tomorrow!

Our Services
Our services include but not limited to:

  • Internal Audit Full Outsourcing
  • Internal Audit Co-Sourcing
  • Assessment of the adequacy of internal control system
  • Quality assurance review of the internal audit department
  • Providing consultation on risk management
  • Establishment and system design to set up internal audit department

As your independent internal auditing partner we hold several responsibilities including reviewing:

  • key policies and procedures
  • governance, risk management and management controls over efficiency/effectiveness of operations safeguarding of assets,
  • the reliability of financial and management reporting
  • compliance with laws and regulations.

To mitigate future risk, identified vulnerabilities and opportunities for improvement are reported and reviewed with appropriate senior management / executive personnel.

For further information, please feel free to contact us:
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
+66 2 729 0593
Name: Parichard Tangngoen

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