July 28, 2020 / Papanastasiou Pantelis

Internal Audit and Business Risk Management

The mission of Internal Audit services is to enhance and protect the value of the business or organization by providing objective and risk-based assurance, advice and information according to specific standards.

Internal Audit is an independent and objective consulting activity, designed to add value and improve the operations of a business or organization. It helps to achieve the objectives set by adopting a systematic and professional approach to evaluating and improving the effectiveness of risk management processes, internal safeguards and corporate governance.

The most important risks are identified and evaluated, so that it is possible to take appropriate measures to address the risks according to the acceptable risk limits set by the management of the company or organization. The Internal Audit function can gather information to support this evaluation during the execution of various projects. Risks are categorized according to their nature into financial, operational, compliance and strategic. The approach of our company, having gained enough experience in recent years by implementing and applying corresponding projects, is based on the best practices followed by modern organizations in Greece and abroad.

1 / Compilation of Internal Regulations & Organization Chart

2 / Recording of policies and procedures in all departments of the company or organization

3 / Evaluation of structures, organizational needs and elaboration of job profiles through the recording of the current situation and based on the needs of the company

4 / Periodic Internal Audits in all transaction cycles of the company or organization (sales, supplies, warehouse, information systems, human resources)

5 / Ensuring the way the company operates and optimizing its goals

6 / Organization of a Corporate Governance framework and compliance control based on the principles of Corporate Governance

7 / Formation of an appropriate culture for identifying and managing business risks