Internal Audit
BHMJ provides the services of internal audit (ing) by performing assurance & consulting activities. It is designed to evaluate and improve the effectiveness of the entity’s governance, risk management, and internal control processes.
It is designed to add value and improve an organization’s operations. Additionally, it ensures compliance with laws and regulations and helps to maintain accurate and timely financial reporting and data collection.
Scope of Internal Audit
| 1 | Activities relating to Governance |
| 2 | Activities relating to Risk Management |
| 3 | Activities relating to Internal Control |
Process
| 1 | Identify the scope and objectives of the audit |
| 2 | Understanding of the business area under review |
| 3 | Taking note of the current processes |
| 4 | Documenting phase by reviewing and checking the documents |
| 5 | Staff phase by reviewing procedures and process control with department staff |
| 6 | Prepare an official audit report describing the key risks facing the business activities within the scope of the audit |
| 7 | Review the audit report with the management |
