The business environment as we know it has evolved significantly over the past couple of years. There is now considerable focus on the internal control functions of companies as compared to the pure numbers and values reported within financial statements. The high-profile collapses involving a number of well known and large organizations were a catalyst for this conversion.
Today’s organizations are faced with many internal and external risk factors, some of which include the introduction of corporate governance and accountability, the ethical behaviour of personnel, compliance with changing regulations, competition and rapid changes in technology.
An organization’s success depends on its ability to manage these risks to achieve the desired results of its stakeholders.
Internal auditing is an independent appraisal activity within an organization, established for the review of the accounting, financial, and other operations as a basis for protective and constructive service to management.
Due to the recent number of updates made to the Regulations within the Territory and the increased enforcement action implemented by the Financial Services Commission, it is of utmost importance that all BVI Companies ensure they are actively complying with the legislation.
Our staff includes Certified Internal Auditors which ensures that we provide our clients with quality service tailored to meet their specific needs. Our internal audit services include but are not limited to:
Compliance reviews e.g. testing of compliance with laws and regulations, testing of compliance with organizational internal controls, testing of compliance with policies and procedures for varying operational functions;
- Information Technology assessments (see Information Technology Operations for additional information);
- Forensic reviews;
- Reviewing the adequacy of Corporate Governance;
- Assistance with the drafting and review of procedural manuals;
- Assistance with the development of an effective ethical culture; and
- Assistance with the development of an Internal Audit Department.
For further information, please contact Kyria Ali – Head of Business Advisory at email@example.com