1300 284 330 info@amwaudit.com.au

INTERNAL AUDIT & RISK

Value Adding – Compliant – Informed

 

At AMW Audit we specialise in setting the benchmark in best practice for managed business solutions to our clients in remote and regional Australia.

We are experienced in servicing local governments, Indigenous organisations and the commercial and public sectors; and we understand that every organisation is unique. That’s why our suite of end-to-end services can be tailored to your specific needs – from short term projects to fully outsourced business functions.

Our expertise across multiple sectors and knowledge of local markets means you can be confident your business is in professional hands.

Why choose us for your Internal Audit & Risk needs?

Risk is an inherent part of the business landscape. Understanding what poses negative risks to your organisation and taking steps to mitigate these is essential. Knowing when to take positive, calculated risks can also be highly valuable.

Through analysis, assessments of data and business processes, insights and recommendations, we can help ensure your organisation is in a position to effectively and efficiently manage risks. This can also offer additional benefits, which are aligned to your organisational objectives and desired outcomes.

Reduced Risk

We have the ability to quickly and effectively enable you to identify and address risks across your business.  This can drive accountability and ownership, and provide assurance of risk coverage to key stakeholders.

Cost Minimisation

The implementation of process review recommendations can offer significant savings through automated, efficient, risk managed and streamlined processes that reduce wastage and the overall cost of operations.

Competitive Edge

Good risk management practices can lead to improved decision-making and business performance. Knowing the right risks to assume and managing them can offer an advantage through superior returns and economic growth.

Regulatory Compliance

Our team of experts have extensive knowledge of applicable laws, regulations and professional standards. We offer compliance reviews and checklists to ensure you are fulfilling your obligations.

Value Creation

Our audits can result in value creation through improved internal controls, higher productivity, security of assets, and better ROI.

 

Operational Efficiency

Access a team of highly qualified professionals and expertise to deliver organisation-wide proficiencies, eliminate duplicate risk activities, and reduce the room for error through continuous monitoring.

Value adding solutions to your business

 AMW Audit’s Internal Audit and Risk service provides innovative solutions in the field of Governance, Risk and Compliance (GRC). Our services can be personalised to meet your unique needs.

Our highly professional team can help manage your risks, offer recommendations to bring a transformational change to your operations and keep you compliant with relevant legislation, standards, policies and industry best practices.

Find Out More About Becoming Audit Ready

If your business is facing a financial audit, or if you have concerns about facing an audit in the future, please contact us.
Our specialist team are happy to help you get prepared.

Our Solutions

Risk Management

Entity Wide Risk Management (ERM) helps to identify, assess and manage your strategic, financial, operational and compliance risks to support the achievement of your desired objectives. These may include minimising the effects of risk, reducing costs, economising operations, complying with laws and regulations, and seizing opportunities for a competitive advantage.

The outcome is a forward focused risk management system which is owned and led by directors, overseen by senior management on a day-to-day basis, and embedded in business processes and the organisational culture.

We administer and manage your risk management systems to facilitate the entire process and take the burden of risk management off your shoulders, allowing you to focus on delivering your core functions and business goals.

Corporate Governance Advisory

Our services  enable Boards and Councils to govern their organisations and delegated committees with increased integrity and credibility, meaningful community engagement, and effective processes.

Our input into an organisation’s financial governance practices helps to ensure that it is accountable to its stakeholders and communities.

We achieve this through the development of organisational policies, accountability frameworks and a transparent and consistent decision making process.
We also assist with constituting and managing Audit Committees which oversee Governance, Risk and Compliance activities within organisations.

Information Technology (IT) Audit

Systems reviews focus on effectiveness and efficiency of IT operations in achieving the organisational objectives. These are undertaken for the purposes of ensuring confidentiality of information, integrity of processing, and continued availability of information.

 Our team will evaluate your organisation’s IT general and application controls, governance in relation to the acquisition of new systems and applications, systems development process, cyber and network security, Disaster Recovery Plan(DRP), and Business Continuity Plan (BCP).

 

Compliance Reviews

Today’s corporate environment is complex, regulated and fast-paced. To stay abreast of the latest developments, our team of experts monitor changes in the legal and regulatory environment.

Through compliance reviews we can help ensure that your organisation meets its obligations in line with all applicable laws and regulations. We offer you tools and methodologies to manage compliance easily and comprehensively.

 

 

 

Internal Audits

Risk Based Internal Audit (RBIA) is derived from the strategic and operational risk registers developed as part of the ERM. They provide assurance to your organisational heads that your processes and controls are operating efficiently and effectively, and identify areas for improvement.

The end product of our internal audits are suggestions and recommendations in areas like efficacy of operations, reliability of financial reporting, deterring and investigating fraud, safeguarding assets, and compliance to laws, regulations and internal policies.

A 3-year Strategic Internal Audit Plan forms the basis of Annual Internal Audit projects.

If your organisation has already developed an Annual Internal Audit Plan, then we can still support you by executing internal audits in the areas identified by the Board and Management, as well as through any professional services as required.

Operational and Process Reviews

With a focus on value for money and business improvement, these reviews are aimed at reducing waste, economising operations and increasing efficiencies. They can help maximise opportunities, minimise costs and streamline processes so you can focus on more important areas of your organisation.

We assess and develop processes in line with quality standards to ensure that your investment in improvements meets best practice.

Policy and Procedures Development & Management

We assist organisations with integrated policy development across the whole spectrum of entity’s operations. Policies and procedures define accountability, rules, guidelines, and the delegation of decision..

We review and maintain policies to ensure they reflect your changing business needs and remain up-to-date with regulatory changes.

A streamlined and simplified process ensures the complexity associated with policy change is reduced thereby reducing compliance risk.

 

Fraud investigation and Forensic service.

We conduct investigations and forensic reviews to detect and inspect unethical behaviour including fraud, corruption, misconduct, and breaches of rules and regulations.

If you suspect or have discovered inconsistencies in your organisation, we can help determine the extent of the crime, fix responsibility, and coordinate with regulatory authorities.

We are also experts in devising prevention measures and can work with you to establish a Fraud Management Plan and robust policies and procedures. This will help prevent recurrence and aid in early detection.