Internal audit focuses on evaluating and improving internal controls, risk management, and governance processes. It's forward-looking and advisory in nature. External audit, conducted by independent firms, verifies financial statements for accuracy and compliance. While external audit is mandatory for many companies, internal audit is a management tool for continuous improvement and risk mitigation.
Internal Audit & Risk Assessment
Governance & Compliance
Strengthening Business
Processes & Controls
At AMY Bizz, we conduct comprehensive internal audits to evaluate how well your business processes are functioning. Our assessments identify operational risks, compliance gaps, and inefficiencies—helping you build stronger controls and a more resilient organization.
Comprehensive Process Evaluation
Protect your business from operational vulnerabilities and compliance risks with our structured internal audit and risk assessment framework. We provide the clarity needed to build robust controls and ensure sustainable growth.
Our Audit & Assessment Methodology
01 Process Workflow Review
Review workflows across finance, procurement, sales & operations to identify bottlenecks and inefficiencies in your business processes.
02 Control Gap Identification
Identify control gaps, process weaknesses, and operational inefficiencies that expose your business to unnecessary risks.
03 Compliance Assessment
Assess compliance with internal policies and UAE regulatory standards to ensure adherence to local and international requirements.
04 Risk Exposure Evaluation
Evaluate risk exposure in key business functions, quantifying potential impacts and likelihood for informed decision-making.
05 Documentation Analysis
Analyse documentation, approvals, and segregation of duties to ensure proper oversight and accountability across functions.
06 Improvement Recommendations
Recommend practical, implementable process improvements that balance risk mitigation with operational efficiency.
07 Risk Register Development
Develop comprehensive risk registers and mitigation action plans with clear ownership and timelines for implementation.
08 Control Framework Support
Support management in setting up strong internal control frameworks that align with business objectives and risk appetite.
Why Companies Choose AMY Bizz
Independent, Unbiased Evaluation
Objective process assessment free from internal biases or conflicts of interest
Practical Risk Reduction
Implementable solutions that strengthen governance and reduce operational risks
Enhanced Operational Efficiency
Improved accuracy, transparency, and streamlined business processes
Tailored Risk Reviews
Customized assessments for startups, SMEs, and scaling companies
Risk Assessment Matrix
Likelihood
High Risk
Critical
High
Medium
Critical
High
Medium
Low
High
Medium
Low
Medium
Low
Negligible
Critical
High
Medium
Low
Negligible
UAE Regulatory Compliance
Adherence to DIFC, ADGM, and local regulatory standards
Key Process Areas We Assess
Finance & Accounting
Procurement
Sales & Revenue
Operations
Want Stronger Processes & Better Controls?
Let AMY Bizz enhance your internal systems with a structured audit and risk review. Build a more resilient organization that can withstand challenges and seize opportunities.
Frequently Asked Questions
-
How does internal audit differ from external audit?
-
What are the most common control gaps you find in SMEs?Common gaps include: lack of segregation of duties (one person handling multiple sensitive functions), inadequate documentation for approvals, weak password policies and access controls, absence of formal procurement policies, insufficient backup and disaster recovery plans, and limited fraud prevention measures. We also frequently find inconsistent application of policies across departments.
-
How long does a typical risk assessment take?For a comprehensive assessment covering 4-6 key business functions, we typically require 3-5 weeks. This includes planning (1 week), fieldwork and interviews (2-3 weeks), analysis and reporting (1 week). For focused assessments on specific areas, we can complete the process in 2-3 weeks. We provide interim updates throughout the engagement.
-
Do you help implement the recommendations?Yes, we offer implementation support packages. This can include developing policies and procedures, creating control matrices, training staff, setting up monitoring mechanisms, and providing follow-up reviews. Implementation typically takes 2-4 months depending on the complexity of recommendations and organizational readiness for change.
-
How do you ensure compliance with UAE regulations?Our team includes experts familiar with UAE regulatory frameworks including DIFC, ADGM, Central Bank requirements, VAT regulations, AML/CFT obligations, and data protection laws. We maintain updated checklists for each jurisdiction and industry sector. We also consider international standards (ISO, COSO, COBIT) where applicable to ensure best practice compliance.