Internal Control and Internal Audit are the key success stones for risk mitigation. An internal audit offers risk management and evaluates the effectiveness of a company’s internal controls, corporate governance, and accounting processes. Internal audits provide management and board of directors with a value-added service where flaws in a process may be caught and corrected prior to external audits.
How Lima can help you
We can support the business to analyze the weakness in existing internal control system.
Identifying and correcting the gaps in the existing process.
Implement the best industry practices in such a way that the processes would rule the organization.
Convert the company from a people dependent organization to a process dependent organization.
Conducting concurrent periodic analytical internal audit and assigning scores for the departments based on their compliance.
Lima strength and experience
People: The team consist of 30 year experienced Chartered Accountants, Cost Accountant, IT and Management professionals.
Technology: Simple and user-friendly technology to analyze and predict and dash board system of regular report.
Strategy: Adoption of analytical strategy based on the nature of business and the capabilities of management.
The team experienced in internal audit of different type of industries of at various level.
Lima Approach
WE PRACTISE value and result based control measures of – internal control design, setting up internal audit department, manual and guideline for internal control and internal audit. It also extends to performance audit, management audit and system audit.
Lima provides predictive analytics (What could happen) Prescriptive analytics (What should do) based on Descriptive analytics (What happened) and Diagnostic analytics (What did happen).
Our approaches are based on business process and procedure, real time monitoring and reporting, dashboard based reporting, correct and prompt technology and depend on business growth.
Convert the company from a people dependent organization to a process dependent organization.
Special Features
Lima travel on nontraditional routes. It depends more in present and future rather past. Technology used for simplification. Lima report in the language of businessman. Strategy and SOP are more important than people. Follow execution rather consultancy practice. Internal Audit report provides you regular updates, variance analysis, what could happen and what should do, early warning signals, compliance and governance.