Your Passport To Effective Internal Audit

1. Your Passport To Effective Internal Audit Horwath Mak is a leading auditors and business advisors group with a vast array of professional services to offer. We are ranked as the 9th largest international network in the world and carry over 27 years of experience of serving the UAE and the GCC market. We bring experience and expertise in identifying and mitigating all business risks and loss events. Our methodologies and solutions facilitate standardized and controlled Internal Audit function with the aim to strategically aligning people, systems and processes within organizations to eliminate redundancy and maximize efficiency and output. is a fully integrated audit management, documentation and reporting system which can be tailored to suit the precise needs of an internal audit, investigations, compliance or other project oriented department. Galileo provides the functionality used by the Internal Audit team to plan, conduct and report their work and provide assurance to management on the effectiveness of their Risk Management framework. Galileo supports audit, compliance, investigation, regulatory and other similar departments. Galileo provides a full risk-based auditing methodology covering strategic and annual planning which ensures targeting of high risk areas whilst maintaining coverage, activity monitoring and tracking ensuring problems and delays are identified and attended to at the earliest time, resource management, scheduling and time recording to ensure effective use of resources, working papers system with an extensive range of working paper types, working paper library and fully integrated electronic review process and automatic audit report production, an issues tracking system which is optionally shared by the business users,post audit surveys to gain feedback on the audit process, key performance indicators and management information for all activities carried out by the department. Key Features • Activity Planning • Activity Monitoring • Scheduling and Timesheets • Working Papers • Action Tracking • Post Activity Questionnaire • Reporting & KPI Key Benefits • Best auditing practices • prioritization of audit work based on risk profiles • generation of working papers based on the risks and controls • providing assurance on the risk frameworkHigh quality audits • control processes for management of activities • continuous review cycles for all documents • benefit from knowledge sharing • standardization of methodologies, working papers and reporting, where requiredOperate more efficiently • work on highest priority issues • optimize the use of resources based on availability and skills • re-use working papers from previous activities and library information • automatic creation of reports, key performance indicators and statistics “ Galileo gives us the flexibility to readily restructure the data when the company reorganizes or makes sales or acquisitions, and enables a framework that helps to ensure that all auditors follow the defined audit process which is key as the demand for quality assurance increases.” BAE Systems plc Risk Management Corporate Finance Business Advisory Audit Horwath Mak Limited, P.O. Box: 506705, DIFC, Dubai Tel: 04 323 0340 E-mail: difc@horwathmak.com Contact Persons: Saad Maniar Mob: 050 551 7590 E-mail: saad@horwathmak.com Firdaus Maniar Mob: 056 608 8227 E-mail: firdaus@horwathmak.com Serving the globe from over 430 offices worldwide with over 25,000 Partners and Staff

2. Activity Planning & Tracking Galileo provides functionality for strategic planning of activities over multiple periods and the generation of the annual plan of work supporting a risk-based audit methodology. Audit work can be prioritized either using management’s assessment of risk, or where the process is less than fully mature, by means of an Audit Needs Risk Assessment model configured to your methodology. Galileo also provides detailed tracking and reporting of all activities, including planned (or unplanned) audit, project and investigation work, as well as non-audit activities such as training and holidays. It provides the ability to actively monitor progress against the annual plan in real-time and to address resource and timing issues at their earliest opportunity. Risk Register by Business Units and Entities The integration with the Magique Risk Register provides a seamless, efficient and effective method for automatically generating working papers for the validation of risks and controls. Completed working papers can be reviewed online as the audit progresses using the review point system thus providing more effective control and speedier identification of potential issues. Action Tracking and Audit Report production Where weaknesses are identified as a result of audit work, issues or required further actions may be generated from any working paper, and tracked through to closure within the action tracking system. Selected actions are then used to automatically generate the audit report using the customer’s own report template. As with Magique actions, comprehensive security is provided to enable online response and tracking by action owners. Resource Management The resource management functionality facilitates optimization of resources as well as developing the skills and experiences of staff. Gantt charts show work allocation, staff availability and time conflicts. The weekly timesheet system is used to record, review and analyze time spent on activities by person, team, task and period. Post Activity Questionnaire Post Activity Questionnaire to gain feedback from the business on the benefits of the audit/activity and to identify where improvements could be made through training or further discussions with the business. Working Papers System Galileo provides a versatile working papers system with the ability to generate activity correspondence and audit programs using a wide range of working paper types. An in-built library is also available to store selected audit programs and reference material which promotes efficient working using a standardized approach. Reporting, KPIs and MI The system supports a wide range of standard and custom reporting options to ensure your exact reporting requirements are met. As the data is held in a single relational database multi-dimensional reporting is available through a range of reporting tools. Key Functionality Horwath Mak Limited, P.O. Box: 506705, DIFC, Dubai Tel: 04 323 0340 E-mail: difc@horwathmak.com Contact Persons: Saad Maniar Mob: 050 551 7590 E-mail: saad@horwathmak.com Firdaus Maniar Mob: 056 608 8227 E-mail: firdaus@horwathmak.com Serving the globe from over 430 offices worldwide with over 25,000 Partners and Staff