Internal Audit
The Internal Audit Department is an independent department in the company that reports to the audit committee emanating from the direct board of directors, which helps the audit committee or the board of directors to obtain assurance about risk management, control, and governance. As this department provides monitoring and advisory services to help the company achieve its goals and achieve added value for the company in accordance with the international standards issued by the International Institute of Internal Auditors in all its work. Internal auditing is a mandatory requirement for companies subject to the supervision of the Capital Markets Authority, as indicated by the executive regulations, Book Fifteenth, Article 6-7.
Internal Audit is a service provided by Alkhuzam & Co. - Morison Global, which evaluates a company's internal controls, including its corporate governance and accounting processes. These types of audits ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection. These audits also provide management with the tools necessary to attain operational efficiency by identifying problems and correcting lapses before they are discovered in an external audit.
Audit Period: Annually for all companies and subject to CMA and CBK
Final Report: Internal Audit report is in a customized report format that consists of opinions on the adequacy and effectiveness of risk management systems and internal control.
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