Internal Auditors are responsible for critical functions inside the accountancy field. They give an independent and objective assessment of a company’s operations, precisely the effectiveness of its internal control structure. Inside the audit field, professionals with the Certified Internal Auditor designation are among the most sought after and respected.
Certified Internal Auditor (CIA):
This certification is administered and bestowed by the Institute of Internal Auditors. The Institute of Internal Auditors states on their website that the CIA designation is accepted all over the world as a certification for internal auditors and is recognized as a standard that people may practice to demonstrate their competency as an internal auditor. This certification comes in three parts. The Institute of Internal Auditors also grants additional specialized certifications that you may obtain, such as:
- Certification in Risk Management Assurance (CRMA),
- Certified Government Auditing Professional (CGAP), and
- Certified Process Safety Auditor (CPSA).
Roles of Certified Internal Auditor:
Internal Auditors practice a systematic, disciplined approach to evaluate and perform the following tasks:
Operations Analysis
An Internal Audit services in Dubai often reviews methods and operations carefully, verifying that they are being followed accurately and that they support the organization’s aims and objectives. After analyzing processes and procedures, the Internal Auditor reports his or her findings and works jointly with auditees to give correct and pertinent suggestions that help the organization to adhere more closely to its goals.
Compliance Review
An Internal Auditor supports superior management by staying fully educated about the intricacies of implementation policies for, and compliance with prevailing regulations and legislation. An Internal Auditor is often accountable for explaining and detailing the effect that non-compliance would have on the company, as well as communicating signs or instances of non-compliance.
Control Recommendations
An Internal Auditor may also be suspected to evaluate the efficiency and effectiveness of current controls and determines if those controls can indeed decrease risks that can threaten the company. Efficient internal control is a built-in component of the management process and keeps the organization on course toward its objectives and mission.
Safeguard Assurances
Another standard Internal Auditor function is to evaluate how the organization preserves its assets and assesses whether the proper sureties are in place. If assets are not well shielded, then the Internal Auditor must recommend necessary modifications.
To accomplish these responsibilities, Internal Auditors often provide any or all of the following services to an organization:
- Financial Statement Audits
Fixes the integrity of the presentation of financial data.
- Operational Audits
Determines whether internal controls are adequate and working as intended and whether operating procedures are performed efficiently and cost-effectively.
- Information Systems/Technology Audits
Embraces participation in system development projects and committees, pre- and post-implementation reviews, operational integrity reviews, system evaluations, consultation, and programming across information systems.
- Management & Special Requests
Incorporates the performance of various reviews at management’s request, such as management audits, fraud reviews, and other special services.
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