Internal Audit

Internal auditing is a necessary and significant professional practice in organizations, and in many cases, it is even required by virtue of a law and/or regulatory instruction. The importance of internal auditing is in its ability to contribute to the strengthening and improvement of the organization’s internal supervision framework, to the increasement of the organizational strength and to the stability of the corporate governance.

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The added value

The added value of internal auditing is expressed in strategic business matters and in meeting the goals of the stakeholders in the organization, in the compliance with the instructions of the law, of the policies and of internal procedures, in preserving the stability of the organization’s value chain and in regularly examining the ability of the organization, its employees and it managers to identify and estimate the surrounding risks and to efficiently implement proper activities and auditing procedures.

Our consultation activity is led and performed by content experts who bring with them a vast and proven experience in a long line of public companies in Israel and abroad, as well as in financial institutions. Our Company’s content experts act in accordance with professional standards and they use advanced auditing approaches combined with mechanical tools in order to create an additional value for organizations and/or internal auditors who retain our services.

Strategy and Work Plans

  • Formalizing a vision, policies, structure and work interfaces
  • Formalizing innovative work approaches and the implementation of an Agile audit
  • Risk surveys and formalizing a multi-year work plan
  • Consultation to audit committees and providing various services on an ongoing basis to chief internal auditors.
  • The conduction of internal quality assessment reports (QARs), as well as an accompaniment in internal inquiries
  • An annual examination of the effectiveness of the supervision framework
  • Consultation in the matter of mentioning the findings and the audit reports.
  • Consultation in the matter of the audit’s resources and in the matter of technological tools.

Designated Audits The Financial Sector

  • The content experts of our Company have a vast experience in providing various services on an ongoing basis to most of the financial institutions in Israel, in performing internal audits, in formalizing annual and multi-year work plans, in performing risk surveys, and in providing strategic consultation on a regular basis.
  • The activity of internally auditing financial institutions – includes amongst other things: compliance and regulation, financial crimes, money laundering and terror financing, trade and the capital market, financial risks (credit, market, liquidity and capital planning), operational risks, human resources, conduct risks, extreme models and extreme scenarios, technological risks, information security and the protection of privacy.

An Audit in the Core Areas such as:

  • The acquisition and management of the chain of supply
  • The management of human resources
  • Compliance and regulation both in the domestic level and in the global level.
  • Payroll audits and audits of reward plans
  • The business continuity and emergency plans
  • The management of real estate and rental assets
  • Fairness, service, and business ethics
  • Corporate governance and the work of the board of directors
  • Nonprofit Organizations, associations, the governmental sector
  • The management of partnerships, and risks of bribery and corruption.

The Outsourcing of an Internal Audit

  • The Office’s internal audit services include the provision of internal audit services through outsourcing to companies, associations and financial institutions. The outsourcing services are provided by those who were fully appointed by C.P.A Ben Avi who has a vast experience in the field of internal auditing.
  • Moreover, the internal audit services are provided to chief auditors through a combined outsourcing (co-source), which combines regular consultation to the audit teams, as well as a full accompaniment of the organization in all the processes of the internal audit in such a way that allows it to preserve the professional knowledge.
  • Professional instructions are provided to the internal audit teams in a variety of areas.