|Internal Audit and Risk Management|
The Internal Audit Services that Makwande offers is in line with the key areas as identified by the definition of Internal Auditing. Our main objective is to add value to your organization, leaving your controls intact and giving recommendations that will help minimise your costs and maximise your bottom line. Some of our activities will be carried out using Computer Assisted Audit Techniques and appropriate audit software.
The definition states;
Our Internal Audit function carries its scope from the mandate given by management of your organization. Our key performance areas include:
Risk Management is one of our specialists field within the Internal Audit Function. We believe risk is a result of a THREAT + EXPOSURE (T + E = R). Risk will result in a loss and the loss must be material or have an impact. There must also be a probability or frequency of risk. Our process in combating risk includes:
When we are done with you, you will be able to apply a Risk Management Framework in the execution of your duties. Management responsibility is to:
After you have done the above, your responsibility will be to consult us. We will monitor your controls using Key Performance Indicators (KPIs), Key Performance Areas (KPAs) and Critical Success Factors (CSFs). All of our duties will be executed within the parameters of COSO/COBiT.