The internal control system is the set of standards and procedures established by management to ensure:
- The protection of assets.
- Efficiency and effectiveness in its operations.
- Adequate and timely information.
- Adherence to corporate policies.
The purpose of Internal Audit arises from the need to independently verify compliance with rules and procedures that were established by management, identify deviations in a timely manner and proactively propose improvements.
Internal auditors fulfill this objective by identifying the main risks faced by the company, evaluating the probability of occurrence, the potential impact on the business and substantiating controls that will decrease or mitigate their effects.
Service characteristics:
- For each of the unfulfilled objectives within the operating cycles, its effect on the Company’s Internal Control structure is analyzed and documented, as well as the indication of the risks generated by its “non-compliance””.
- Both the survey of the cycles and the identification, evaluation and testing of the controls are documented in a way that allows a clear appreciation of the process followed and the existing monitoring. This documentation includes a conclusion on the fulfilment of the defined control objectives and, when appropriate, their effect on the control structure.
- It is carried out by independent professionals, highly qualified, with proven experience in these tasks.
- The information to which we have access is treated with absolute confidentiality. Our staff are trained and have signed a written commitment of responsibility for the confidential handling of our clients’ information.
