The role of internal audit is critical to the maintenance of the required internal control to safeguard and protect the assets of any organization. The presence of an internal audit function also provides platform for the continuous review and remodeling of the internal control systems of an organization such that the system is tweaked on need basis for relevance. However the establishment of an Internal Audit department staffed by the permanent staff of the organization presents its own set of problems that vitiate the effective functioning of the department in the way and manner envisioned in the “internal audit charter” of most organizations.
In order to cure these deficiencies, Goldwyns offers Internal Audit services to clients on “outsourced basis” and deploys qualified chartered accountants for the running of these internal audit functions. In order to guarantee effectiveness, a director is dedicated to this function and staffers are deployed on a rotational basis at the operational sites to ensure and protect independence and objectivity in the discharge of this function to clients. This arrangement offers more value to clients and it is very cost-effective.