Internal Auditing Services

Internal audits are conducted by experts who possess a deep understanding of a company’s culture, systems, and procedures. This audit function ensures that internal controls effectively mitigate risks, governance processes operate efficiently, and organizational objectives are achieved.

Our Internal Audit Approach

• Understanding Systems and Controls: We begin by gaining a thorough understanding of your company’s accounting systems, policies, and internal control procedures.
• Assessing Internal Controls: We evaluate the reliability of your internal controls to determine the level of trust that can be placed on them.
• Audit Planning: We carefully plan the scope, timing, and depth of audit procedures to ensure a comprehensive audit.
• Coordinating Audit Activities: We organize and synchronize all audit activities to ensure a smooth and efficient process.

Our commitment is to gather sufficient and relevant audit evidence through compliance and substantive procedures. This approach ensures that we can draw reasonable conclusions to form our opinion on your financial information.

Audit Procedures

Our audit procedures include:

• Testing the details of transactions and balances.
• Analyzing significant ratios and trends, with investigations into unusual fluctuations or items.

Risk Assessment and Internal Auditing Focus

Our internal audit activities assess risk exposures across governance, operations, and information systems, focusing on:

• Effectiveness and efficiency of operations.
• Reliability and integrity of financial and operational information.
• Safeguarding of assets.
• Compliance with laws, regulations, and contracts.

Enhancing Internal Controls and Governance

At Superior Audit & Tax, we provide actionable recommendations to address areas of opportunity or concern. While management is responsible for internal controls, our internal audit services offer assurance that these controls are effective and functioning as intended.

A robust internal audit function is a valuable asset for management, providing impartial insights that enhance internal controls, risk management, and governance processes.