Risk management and Internal Audit
Risk management and Internal Audit are two important functions that help the organizations manage its risks and improve its performance. Risk management is the process of identifying, assessing, and mitigating the potential threats and opportunities that may affect the firm’s objectives, strategies, and operations. Internal audit is the process of providing independent and objective assurance and consulting services to evaluate and enhance the effectiveness of the firm’s risk management, control, and governance processes.
We can provide various services related to risk and internal audit, depending on the needs and objectives of the client. Some of the possible services are:
- Risk management: This service involves identifying, assessing, and mitigating the potential threats and opportunities that may affect the client’s objectives, strategies, and operations. Risk assessment can help the client organization determine a risk appetite, develop a risk profile, and a risk response plan.
- Internal audit: This involves providing external or supplementary resources to perform the internal audit activities for the client organization, such as planning, executing, reporting, and following up on internal audits. Internal audit outsourcing or co-sourcing can help the client organization enhance the quality, independence, and efficiency of their internal audit function.
- Compliance Monitoring: Regular audits and reviews to maintain compliance monitoring programs that ensure adherence to applicable laws, regulations, policies, and procedures while minimizing legal exposure.
- Process Improvement: The service analyze business processes to enhancing efficiency while maintaining effective controls.
- Fraud Detection & Prevention: The service employ advanced data analytics techniques to detect anomalies or patterns indicative of fraudulent activities within financial transactions or operational processes.
- Governance Framework Enhancement: The service assist organizations in strengthening governance frameworks, promoting transparency and accountability at all levels.
- Risk Management Training & Awareness: The service offer customized training programs to enhance risk management awareness and capabilities within organization.
- Internal Audit Outsourcing: The service provide outsourced internal audit services conduct comprehensive audits of organization’s operations, financial statements, and compliance with policies and regulations.
Let us do our good services
Risk management and Internal Audit are specific activities that require high expertise and apply according to international standards and good practices. This field is still new to most businesses in Vietnam, so experts are needed to support implementation. We own a strong team with good skills and much experienced experts in performing this service. AFA Accounting is a leading provider of Risk management and Internal Audit services with high-quality in Vietnam.