Internal controls are a vital aspect of any corporation to maintain stability, reliability, and to prevent any suspicious activities. Therefore it is requisite for a company to have a reliable, independent entity to constantly analyze its operations, and proactively seek to maintain the company’s integrity. One of the most efficient ways to protect a company against such risks is to perform appropriate internal audits.
Nowadays, there have been various cases of financial incidents involving foreign subsidiaries in Sri Lanka. One of the main causes in these issues is inefficient work by the foreign subsidiary, due to lack of monitoring by the parent company. If audit is performed directly at the subsidiary, the company has to dedicate much time and effort – and therefore cost – to do so. In addition, the company may not originally know the customs and regulations specific to Sri Lanka, bringing to even more difficulties.
With the help of professionals, our clients are offered expert service for internal audit in Sri Lanka.