Service
Internal audit and control review
Internal audit is not statutory audit. It answers a different question: whether the controls you believe exist are actually working. Most businesses find out through a loss rather than through a review.
Who this is for
- Businesses where cash, inventory or purchasing sits with one person
- Companies expanding to multiple branches or outlets
- Boards wanting independent assurance between statutory audits
- Owners who suspect leakage but cannot evidence it
What it includes
Process walkthrough
How purchasing, sales, cash, payroll and inventory actually run — as performed, not as documented.
Control testing
Sample-based testing of whether approvals, segregation of duties and reconciliations genuinely operate.
Cash and inventory verification
Physical verification against records, and the reconciliation of any difference.
Risk-ranked findings
What we found, what it exposes and what it costs — ranked by risk, not listed alphabetically.
Remediation plan
Specific fixes with owners and dates, sized to what the business can actually implement.
Follow-up review
A return visit to confirm the fixes held, because most do not without one.
How it works
- 01
Scope by risk
Where the money and the exposure actually sit, so the review covers what matters rather than everything.
- 02
Observe and test
Walkthroughs with the people doing the work, then sample testing against the records.
- 03
Report
Findings ranked by risk, with the consequence stated in money wherever it can be.
- 04
Fix and verify
Remediation agreed, implemented, then re-tested.
Questions people ask
- How is internal audit different from statutory audit?
- Statutory audit gives an opinion on whether the financial statements show a true and fair view, and by law must be carried out by a licensed auditor. Internal audit is for management — it tests whether controls and processes work. Different purpose, different audience, and no conflict with your statutory auditor.
- Can you do this if we already have an auditor?
- Yes. Internal audit sits alongside statutory audit and usually makes it smoother, because issues surface before the auditor finds them.
- Will this feel like an investigation to our staff?
- It is a review of process, not of people, and we conduct it that way. Where something looks deliberate rather than accidental, we tell you privately first.
- How often should it be done?
- Annually for most businesses, more often where cash handling is heavy or where a previous review found significant gaps.