Ready to ensure the integrity of your business operations?
Explore Worldbiz’s expert audit and assurance services, including tax audits, financial audits, internal audits, and risk advisory. Reach out to us now!
In today's dynamic business landscape, complexity is on the rise with numerous factors influencing decision-making processes and outcomes. The importance of effective risk management is becoming increasingly critical. Drawing from our extensive experience, we recognize that effective risk management goes beyond mere identification and detection of risks. Modern businesses acknowledge that risks can jeopardize organizational objectives and therefore must be meticulously identified, assessed, prioritized, and managed. Our team pays meticulous attention to crucial business information and is dedicated to fostering the progress and development of our clients as our primary objective.
Internal Audit
We conduct a thorough review and assessment of your organization's internal controls. Following a comprehensive risk assessment, we evaluate the adequacy of existing internal controls and verify their proper implementation. Throughout the year, our internal auditors maintain regular communication with you to ensure that you understand the project scope and that any identified control weaknesses are discussed and addressed promptly.
Issues We Solve
- Operational audits
- Financial operations audits
- Risk assessment
- Data analytics
- Human resources, benefits, and payroll audits
- SOX compliance
- Quality assurance reviews for Internal Audit departments
Our experienced auditors adopt a risk-based approach to internal audits, aimed at enhancing client performance and operational efficiency. We transcend traditional methodologies to deliver tangible value. Our goal is to elevate internal audit into a strategic and productive tool within the framework of modern corporate governance.
Financial Audit
A financial audit is an independent and objective evaluation of an organization's financial reports and the processes involved in financial reporting. The main objective of financial audits is to provide regulators, investors, directors, and managers with reasonable audit and assurance that financial statements are accurate and comprehensive.
Investigative audit/Forensic Audit
This is an investigation of a specific area or individual upon suspicion of inappropriate or fraudulent activity. The aim is to identify and rectify breaches in controls, and gather evidence in case charges are to be brought against someone.
Information Systems Audit
This involves a review of the controls related to software development, data processing, and access to computer systems. The goal is to identify any potential issues that could impair the ability of IT systems from accurately providing information to users, and to ensure that unauthorized parties do not have access to data.
Tax Audit
This is an analysis of the tax returns submitted by an individual or business entity to verify the accuracy of tax information and income tax payments. These audits typically focus on returns that show unusually low tax payments, aiming to determine if additional assessments can be made.
Risk Advisory
In today's landscape of uncertainty and evolving economic policies, businesses are more vulnerable to risks. However, leading organizations recognize that effectively managing risk can be a source of competitive advantage. By implementing robust risk management strategies, organizations unlock their full potential, safeguarding and creating value for all stakeholders. Our tailored offerings are designed to meet the unique needs of each client and address their specific challenges. We are committed to guiding you through addressing key business concerns, ensuring compliance with regulatory standards, enhancing corporate governance and reporting effectiveness, and optimizing operational efficiencies to achieve strategic business objectives. Our services includes:
- Assessing operations across various business functions to ensure compliance with both statutory and internal directives.
- Providing advisory services through compliance audits, mystery audits, and management audits to enhance business effectiveness and mitigate risks.
- Assisting in the development and testing of Internal Controls over Financial Reporting (ICFR).
- Drafting Standard Operating Procedures (SOPs) to streamline operations and ensure consistency.