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Audit

Internal Audit Risk and Compliance Services

The dynamic business environment is compelling organizations to seek innovative strategies to enhance their competitive advantage.

A key shift in modern leadership is the recognition that risks are no longer just hazards, but rather opportunities to be embraced.

This change in perspective has significantly elevated the demand for high-quality Internal Audit, Governance, Risk, and Compliance Services, driven by a heightened awareness of the need for:

  • Good Corporate Governance
  • Effective Risk Management
  • Appropriate Internal Controls

Methodology

United Accountants internal audit methodology has an operational and business risk focus. It is designed to aid the efficiency and effectiveness of corporate performance and business operations, to address the traditional financial and compliance areas and to assist management in understanding strategic risks, identifying cost reductions and profit improvement opportunities.

Internal Audit Service Areas

Internal Audit Strategic Sourcing

United Accountants professionals offer Internal Audit outsourcing and co-sourcing solutions designed to deliver significant value to your organization. Key Outcomes:

  • Cost Reduction: Lower operational costs.
  • Capital Freedom: Free up vital capital.
  • Enhanced Focus: Improve your ability to concentrate on core business strengths.

Service Models:

  • Outsourcing Service: United Accountants internal audit experts provide advice on critical business risks and ensure the implementation of effective controls. This is achieved by identifying better practices that actively reduce the cost of operations.
  • Co-sourcing Service: United Accountants delivers specific skills on demand. This achieves a necessary level of flexibility that is critical for effectively managing and resolving various operational issues.

Strategic Performance Review of the Internal Audit Function

Many organizations are increasingly relying on the internal audit function to help put their key success factors into a meaningful business context.

Therefore, United Accountants goal is to provide the insight and strategic advice for clients to help them maximize internal audit efficiency

Establishing an Internal Audit Function

United Accountants professionals have worked with a wide variety of organizations providing ongoing support through offering advice and training on distinctive topics throughout the development of the internal audit function.

Enterprise-wide Risk Management (ERM)

ERM is an organization-wide approach to the detection, evaluation, communication and management of risk.

United Accountants ERM professionals can provide guiding tools to help clients assess current risks, understand what the risks are and can make the connection between risks and controls ultimately increase business performance management systems through offering an ERM program.

Sustainability is defined by the World Business Council for Sustainable Development as: A business’s commitment to fostering sustainable economic development by collaborating with employees, families, the community, and society to enhance the quality of life.

United Accountants can help your organization assess your entire sustainability program and practices, covering key areas like people, process, risk, and technology.

United Accountants GRC Service assists your company in constructing an integrated framework that unifies governance, risk, compliance and assurance functions in order to achieve a consistent and holistic vision across the organization.

Having this effective integrated GRC Framework:

Protects and enhances business value

By fostering a risk-aware culture, supporting informed decision-making and by addressing multiple compliance and assurance layers.

Enhances operational efficiency

By rationalizing risk management, controls and assurance structures and processes, and intelligent use of IT and data management structures.

Provides a proactive and dynamic approach

By enabling the organization to quickly, consistently and efficiently respond to challenges provided by evolving risk profiles and rapidly changing regulatory requirements.

Supports a linkage to strategy

By enabling a company to meet compliance objectives while improving performance by using an integrated framework in support of its strategic objectives

Regulatory and Compliance Arrangements are the systems an organization implements to satisfy external regulatory requirements and corresponding internal policies.

United Accountants has a proven history of delivering regulatory services to our clients. We offer support across the entire lifecycle of your compliance framework: from designing and building to maintaining and improving your regulatory and compliance arrangements.

A set of service offerings for our clients including two key service offerings :

  1. The Regulatory Impact Assessment (RIA).

An RIA can be conducted in a number of circumstances, including:
The client is seeking regulatory guidance in two primary scenarios:

    • Understanding the impact of new regulations on its existing business operations.
    • Assessing how current regulations will affect new operations the client plans to establish. Governance, Risk and Compliance (GRC) Service Areas Regulatory and Compliance Arrangements (RCA)
  2. The Regulatory Gap Assessment (RGA).

An RGA can be conducted in a number of circumstances, including:

    • The client requires an assessment of its current operations to verify compliance with existing regulatory requirements.
    • The client needs guidance on the necessary operational changes required to achieve alignment with new regulations.

United Accountants helps you achieve regulatory assurance and readiness by addressing:

  • Monitor and mitigate the potential downside of conducting regulated activity, through the implementation of reliable compliance arrangements; and
  • Obtain the potential benefits of cost effective regulatory and compliance arrangements helping you to achieve a competitive edge.