Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Internal audit is also needed for a listed company and a company wishing to go public.  

When a company become big and complex that it is impossible for executives to monitor all the activities for which they are responsible. So far, the fact remains that the unexpected events unavoidably harm the company’s performance and employee’s morale in general. Activities unmonitored will most likely lose their efficiency and effectiveness and in many cases lead to frauds. Ultima can assist executives in acting as their Internal Auditor who think like them and can be relied upon.

  For a company aim to be listed in Stock Exchange of Thailand (SET), we also provide  overall internal control check up & consulting services to improve necessary internal controls before starting internal audit process by the designated internal auditor or being Internal Auditor to handle the quarterly internal audit required by SET.

Our experience in internal auditing can also assist in establishing an inhouse Internal Audit Department. However, the internal audit department will need time and experience to accomplish all targeted mission. It is more practical to have internal audits focusing their activities on the foremost and fundamental aspects of internal audit. That is the financial audit for prevention and detection of fraud. With sufficiently accumulated expertise, the internal auditors may then expand its audit scope to cover other aspects including operational and performance audit.