The effectiveness of the internal control systems of the firm eliminates many risks that may be faced. For this reason, System Audit, IT Audit, Internal Control and Risk Assessment, Fraud and Irregularity services seen as interrelated part of the Internal Audit. Businesses that are free from the risk of loss, make decisions based on reliable information and reports, are protected against errors and frauds, and whose efficiency is constantly increasing, achieve their objectives.
1- System Audit
It is consist of firm’s managerial organizational, fraud and irregularity controls and this controls are conducted risk based approach.For this audit:
1.a. Business processes, operations, accounting and document/information flow and suitability and efficiency of the circulating documents are examined.
1.b. Scenarios for possible risks to be encountered and their control mechanism for these are created.
1.c. According to the scenarios created, the necessary activities (action plans) are applied for the Company Management and Organizations, Policies and Procedures Implemented by the Company, Human Resources and Personnel Management and Performance Evaluation Systems, Finance, Accounting, IT and all business processes. The processes are monitored.
1.d. Process Monitoring, Evaluation, Efficiency Analysis are prepared
1.e. Company Goal, Vision, Mission and Corporate Culture Planning are prepared
1.f. To plan the training/education needs that will provide all the necessary Internal Control System in line with the management’s needs, to give consultancy and to establish an effective internal audit coordination.
Businesses that are free from the risk of loss, make decisions based on reliable information and reports, are protected against errors and frauds, and whose efficiency is constantly increasing and achieve their objectives.
2- IT Audit
2.a. Evaluating the alignment of the IT function with organizational goals/objective, strategy, values, vision and mission,
2.b. Monitoring the realization of IT performance targets,
2.c. Evaluation of compliance with laws, reputation, information quality, security and other requirements,
2.d. Evaluation of the control environment,
2.e. Evaluation of inherent risks in IT
As a result of the service, IT controls provide the following assurances:
By establishing auditable policies and procedures to ensure the confidentiality, integrity and availability of IT systems and data,
– Business processes and transactions are made secure,
– Ensures the integrity, accuracy and completeness of the data,
– The doubt risk is eliminated in IT-related controls and processes in any business process gain reliability,
– It acts as a regulator of all business processes using IT systems.
4 General Controls in IT are continuously provided:
1- Access to programs and data (Information Security):
“Ensuring that only authorized users have access to programs and data by confirming the user identity.”
“Ensuring that systems are developed, structured and installed in accordance with the objectives/goals of the company.”
“Ensuring that program changes are requested, prioritized, established, tested, and deployed in accordance with the company’s goal.”
“Ensuring that problems are identified and resolved in a timely manner so that the systems function fully and correctly and the integrity of the data is preserved.”
Therefore, a company that receives IT audit and consultancy supports the controls and processes connected to the system, is sure of the mathematical accuracy and results of the transactions, and can control and manage its financial and operational risks.
These types of businesses prove that healthy business structure, your operations and organizational structure will develop and automatically regulate the following 4 contingencies. What are they?
1- Provides automated controls,
2- Creates automated secure accounting procedures,
3- Manual controls based on reports and data generated by the system are healthy,
4- Regulates the limitation of powers on the system and the separation of duties.
IT control is the need of the whole company according to the scales. For a healthy development, a healthy start is vital.
3- Internal Control and Risk Assessment Services
3.1. Probability of risks: probability / chance
3.2. Impact of risks: the consequences that will occur if the risk occurs.
In this case, by making internal control and risk evaluation, the factors that may create obstacles in the realization of the objectives (policies) are determined by adopting a systematic approach in the businesses. These are, by in order:
1- Policy and Process Controls (Transforming restrictive regulations into efficiency)
2- To ensure traceability and accountability of records.
1. Indoor Risk identification and Measurement Services:
a. Philosophy of Risk management
b. Organization’s risk analysis request
c. Values, management, evaluation of corporate structure
2.Goal setting studies:
a. Strategic goals
b. Operational/budgetary targets
c. Tolerating risks
3. Event/situation description:
a. Influencing factors
b. Event categories
c. Risks / Opportunities
4. Risk assessment:
a. Intrinsic risk, Residual risk
b. Probability and effects of risks (Matrix)
5. Response to risk (selection process)
6. Control activities (integrated or specific)
8. Information and communication
4- Fraud and Irregularity Services
It consists the possibilities of fraud and irregularity risks that the business is exposed to. According to this;
4.1. Identification of the Risks of Material Misstatement arising from Fraud and Irregularities,
4.2. Detection of Fraud and False Risks related to Income Accruals,
4.3. Carrying out the actions that need to be taken with significant risks of mistake,
4.4. The general procedures to be performed and the implementation of risk-taking techniques,
4.5. Risks of knowingly or unknowingly exceeding the controls by the business management,
4.6. Making journal entries and other corrections,
4.7. Identification of risks related to errors and frauds in accounting estimates,
4.8. Identification of risks and errors regarding the business logic on which important business is based and its decision procedures,
4.9. Risk estimation studies with a result-oriented approach in terms of Audit, Independent Qualified Audit, Internal Audit, Compliance Audit and Performance Audits.
The effectiveness of the Internal Control Systems of the business eliminates these risks. For this reason, our services for System Audit, IT Audit, Internal Control and Risk Assessment Activities and Fraud and Irregularity Detection in the Internal Audit Services constitute integrity.