International Internal Audits focus on evaluating the effectiveness of global risk management, governance, and operational processes. These audits help ensure that companies maintain robust internal controls and manage risks effectively across all regions.

Audit Procedures Followed:

• Risk-Based Audit Planning: We start by identifying the key risks associated with the global operations of the business, such as operational risks, regulatory risks, and fraud risks. We prioritize audits in high-risk regions or business units.
• Global Control Framework Evaluation: We assess the company’s global internal control systems, ensuring that they align with best practices and comply with international governance standards.
• Process Walkthroughs Across Regions: Our auditors conduct walkthroughs of operational processes in various regions to understand local differences and evaluate the effectiveness of global policies at the regional level.
• Control Testing: We perform tests on key controls (such as procurement, payroll, and financial reporting) to verify that they are functioning as intended and in accordance with both global and local policies.
• Reporting & Recommendations: We prepare a comprehensive internal audit report that includes global findings, as well as region-specific recommendations for improving controls, mitigating risks, and enhancing governance practices.

Cross-Border Compliance Audits ensure that global companies comply with the different regulatory requirements in each country where they operate. These audits are essential for companies in heavily regulated industries such as finance, healthcare, and pharmaceuticals.

Audit Procedures Followed:

• Regulatory Framework Assessment: We review the applicable regulations in each country, such as GDPR in Europe, SOX in the U.S., AML (Anti-Money Laundering) regulations, or industry-specific regulations like HIPAA (for healthcare).
• Local Policy Review: We assess the company’s internal policies and procedures to ensure they align with local and international regulatory requirements.
• Transaction and Process Testing: We test selected transactions and processes for compliance with local regulations, such as anti-money laundering (AML) compliance in banking or data protection compliance in healthcare and technology.
• Gap Analysis & Remediation: After completing the audit, we identify any areas of non-compliance and provide a detailed plan for remediation to bring the company into full compliance with local and international regulations.
• Compliance Reporting: We issue a compliance report detailing our findings and recommendations for improving compliance, with a focus on minimizing legal and financial risks in cross-border operations.

Operational Audits assess the efficiency and effectiveness of global business operations. The focus is on identifying process inefficiencies, optimizing resource allocation, and improving productivity across different regions.

Audit Procedures Followed:

• Global Process Mapping: We map out key global business processes such as procurement, production, supply chain management, and sales to understand the workflow and identify inefficiencies.
• Efficiency Testing: We assess whether resources are being utilized efficiently, such as by analyzing production downtime, inventory turnover rates, and cost per unit of production in different countries.
• Benchmarking: We compare the company’s global operational performance with industry benchmarks to identify opportunities for improvement.
• KPI Analysis: We evaluate key performance indicators (KPIs) for each region, ensuring that operational goals align with overall business strategy and identifying areas where performance falls short.
• Operational Improvement Recommendations: Based on our findings, we provide actionable recommendations for improving efficiency, reducing costs, and enhancing productivity across global operations.

Forensic Audits investigate potential fraud, financial mismanagement, or illegal activities within a multinational organization. These audits are critical for identifying and addressing financial crimes, particularly in high-risk regions.

Audit Procedures Followed:

• Investigation of Fraud Risk Areas: We begin by identifying areas with a high risk of fraud, such as accounts payable, procurement, or intercompany transfers in different countries.
• Transaction Analysis: We analyze financial transactions using forensic accounting techniques to identify anomalies, suspicious patterns, or irregularities.
• Document Review & Interviews: We review key documents such as invoices, contracts, and financial records. We also conduct interviews with relevant personnel to gather additional information.
• Digital Forensics: We use data analytics tools to identify potential fraud in electronic transactions, emails, or financial records, particularly in cases of cross-border money laundering or misappropriation of funds.
• Reporting & Legal Support: We issue a forensic audit report summarizing our findings and providing evidence that can be used in legal proceedings if necessary. We also support legal teams in pursuing fraud claims or addressing regulatory violations.

It focuses on assessing the effectiveness of internal controls over financial reporting to prevent inaccuracies and fraud.

We provide expert SOX (Sarbanes-Oxley Act) audit services designed to help your organization comply with regulatory requirements and enhance internal controls. Our experienced team conducts thorough audits to ensure that your financial reporting processes are accurate, reliable, and in line with SOX regulations.

Our SOX Audit Services Include:

1. Internal Control Assessment: Evaluating internal controls over financial reporting for SOX compliance.
2. Compliance Testing: Verifying adherence to SOX regulations and accuracy of financial statements.
3. Risk Assessment: Identifying and assessing risks related to financial reporting and internal controls.
4. Control Design and Implementation: Advising on designing and implementing effective internal controls.
5. Documentation and Reporting: Preparation of detailed reports on audit findings and areas for improvement.
6. Remediation Support: Assistance with corrective actions for identified deficiencies.
7. Continuous Monitoring: Provide ongoing support to ensure sustained SOX compliance.
8. Management and Board Communication: Report findings and recommendations to management and the board.
9. SOX Training and Education: Offer training to ensure team understanding of SOX requirements.
10. Audit Readiness Assessment: Evaluating compliance status and preparing for external audits.

An Internal Financial Control Audit is a review of a company’s financial procedures and systems to ensure they effectively prevent errors and fraud while complying with regulations. Our team of experts provides a range of services, including but not limited to:

1. Control testing
2. Compliance review
3. Fraud prevention and detection
4. Documentation and Reporting
5. Training and Awareness Programs
6. Action Plan Development

This verifies that fixed assets are accurately listed on the balance sheet, confirms their existence and condition, and evaluates the effectiveness of controls over their acquisition, usage, and disposal.

We specialize in delivering comprehensive fixed assets auditing services that ensure the accuracy, integrity, and efficiency of your asset management practices. Our expert team provides a detailed examination of your fixed assets to support effective management and compliance.

Our Fixed Assets Auditing Services Include:

1. Asset Verification: Conducting physical inspections to verify the existence and condition of your fixed assets, ensuring that your recorded data accurately reflects your actual assets.
2. Record Accuracy Check: Reconciling asset records to ensure that they are correctly listed and represented on the balance sheet and eliminating discrepancies.
3. Valuation Assessment: Assessing the valuation of the fixed assets to ensure recording at the correct historical cost or fair market value, in accordance with accounting standards.
4. Depreciation Review: Reviewing depreciation calculations and methods to verify compliance with accounting principles and ensure accurate reflection of asset usage.
5. Control Evaluation: Evaluating the effectiveness of internal controls over the acquisition, usage, and disposal of assets, helping to safeguard against errors and fraud.
6. Compliance Check: Ensuring the asset management practices comply with relevant regulations, industry standards, and internal company policies.
7. Asset Tagging and Documentation: Review of asset tagging, documentation, and record-keeping practices to ensure they are accurate and complete, facilitating efficient asset tracking
8. Disposal Procedures Review: Examination of the procedures and controls related to the disposal of fixed assets to ensure proper accounting and authorization.
9. Asset Tracking: Assessing how the fixed assets are tracked and managed to optimize their use and prevent loss or mismanagement.

At Finsignments, we offer detailed inventory stock audit services designed to verify the accuracy and integrity of your inventory records. Our expert team provides thorough evaluations to help you manage your stock efficiently and ensure that your financial statements reflect a true and fair view of your inventory.

Our Inventory Stock Audit Services Include:     

1. Physical Inventory Count: Performing detailed physical counts of inventory to verify the accuracy of stock records and identify any discrepancies between recorded and actual quantities.
2. Record Reconciliation: Comparison of physical stock counts with inventory records to ensure consistency and accuracy, correcting any errors or discrepancies found.
3. Valuation Verification: Assessing the method of valuation of inventory, ensuring it is accurately reported at the correct cost or market value, in line with accounting standards.
4. Inventory Management Review: Reviewing the inventory management processes and controls to identify any weaknesses or inefficiencies, and provide recommendations for improvement.
5. Stock Rotation and Shelf-Life Analysis: Conducting the cycle counts as part of ongoing inventory management practices to ensure continual accuracy and minimize disruptions.
6. Compliance Check: Checking if the inventory practices comply with relevant regulations, industry standards, and internal company policies.
7.  Inventory System Assessment: Evaluating the effectiveness of inventory management systems and technologies, ensuring they support accurate tracking and reporting.
8. Reporting and Analysis: Preparation of detailed audit reports that highlight findings, discrepancies, and actionable recommendations for enhancing inventory management and control.
9. Continuous Improvement Recommendations: Providing with the recommendations on any issues noticed fostering better control and efficiency.

We offer comprehensive investigation services designed to uncover facts, resolve disputes, and provide clarity on complex issues. Our experienced team uses thorough methods and advanced techniques to conduct detailed investigations, helping you make informed decisions and take appropriate actions.

Our Investigation Services Include:

1. Fraud Investigation
2. Forensic Accounting
3. Background Checks
4. Corporate Investigations
5. Asset Tracing and Recovery
6. Litigation Support
7. Regulatory Compliance Investigations
8. Due Diligence
9. Employee Misconduct Investigation
10. Cybersecurity Investigation
11. Insurance Claims Investigation

Our expert team delivers in-depth analysis and insights to ensure that you have all the necessary information to make well-informed choices and mitigate potential risks of any prospective project.

Our Due Diligence Services Include:

1. Financial Due Diligence: Detailed examination of financial statements, performance metrics, and accounting practices to verify accuracy and uncover any financial issues.
2. Legal Due Diligence: Review of legal documents, contracts, and compliance with laws to identify potential legal risks, obligations, and liabilities.
3. Operational Due Diligence: Analysis of operational processes, systems, and management practices to assess efficiency and identify any operational risks.
4. Commercial Due Diligence: Evaluation of market conditions, competitive landscape, and business strategy to assess the commercial viability and potential of the opportunity.
5. Regulatory Compliance Due Diligence: Ensuring that the target complies with relevant regulations and industry standards, identifying any compliance issues.
6. IT and Technology Due Diligence: Evaluation of IT systems, technology infrastructure, and cybersecurity measures to ensure effectiveness and security.
7. Tax Due Diligence: Analysis of tax records and compliance to identify any tax-related risks, liabilities, or issues.