Internal Audit & Risk Advisory Services
Strengthen Your
Business with Expert
Internal Audit & Risk Management
Why Internal Audit & Risk Advisory Matters
- 65% of Canadian businesses face financial fraud annually
- Regulatory compliance violations cost businesses millions in fines
- Companies with strong internal controls reduce fraud losses by 50%
- Proactive risk management leads to 30% higher financial performance
Risk Advisory vs Internal Auditing
Don’t just manage risks – master them.
Risk Advisory
Think of Risk Advisory as your forward-looking radar. It’s all about identifying potential threats before they happen and creating strategies to mitigate them. Here’s what it covers:
- Proactive Risk Identification: Spotting vulnerabilities in your operations, finances, and compliance.
- Strategic Planning: Developing action plans to address risks and turn them into opportunities.
- Fraud Detection and Prevention: Implementing controls to protect your business from internal and external threats.
- Compliance Support: Ensuring your business meets Canadian regulations like PIPEDA and CASL.
When to Use It:
- When you’re planning to expand or enter new markets.
- When you want to strengthen your overall risk management framework.
- When you need to stay ahead of emerging threats.
Internal Auditing
Internal Auditing is your rearview mirror. It focuses on evaluating your existing processes, controls, and systems to ensure they’re working effectively. Here’s what it involves:
- Process Evaluation: Reviewing your operations to identify inefficiencies or gaps.
- Control Testing: Checking if your internal controls are effective in preventing errors or fraud.
- Compliance Checks: Ensuring your business adheres to laws, regulations, and internal policies.
- Reporting: Providing actionable insights to improve your systems and processes.
When to Use It:
- When you need to validate the effectiveness of your current controls.
- When preparing for an external audit or regulatory review.
- When you want to improve operational efficiency and accuracy.
Which One Does Your Business Need?
- If you want to prevent risks before they happen, go for Risk Advisory Services.
- If you need to ensure compliance and detect inefficiencies, choose Internal Auditing.
Scenario
Risk Advisory
Internal Auditing
Planning to expand your business
Preparing for an external audit
Concerned about fraud or cyber threats
Want to improve operational efficiency
Need to ensure compliance with laws
How They Work Together
- Risk Advisory helps you plan for the future by identifying and mitigating potential risks.
- Internal Auditing ensures your current systems are effective and compliant.
What Online Accountant Offers
Our Internal Audit and Risk Advisory Services are designed according to the possible risks that businesses can face when dealing with their finances.
Risk Assessment and Management
- Identify financial & operational risks
- Develop mitigation strategies
- Ensure business continuity
Fraud Detection and
Prevention
- Transaction monitoring & analysis
- Internal control enhancements
- Fraud risk assessments
Design, Implementation & Evaluation of Internal Controls
- Policy & procedure development
- Cost analysis & revenue tracking
- Risk-based improvements
Compliance and Regulatory Assurance
- Industry-specific compliance checks
- Regulatory reporting support
- Audit readiness assessments
Training and
Development
- Financial compliance training
- Internal controls workshops
- Customized skill development
Data Analytics and Continuous Monitoring
- Real-time financial data insights
- Anomaly detection & alerts
- Performance trend analysis
Corporate Governance Enhancement
- Board advisory & best practices
- Ethics & compliance frameworks
- Governance risk assessments
Process Optimization and Efficiency
- Workflow automation solutions
- Cost reduction strategies
- Performance improvement plans
Strategic
Planning
- Long-term financial roadmaps
- Growth & investment strategies
- Market trend analysis
Risk Assessment
We’ll analyze your business from top to bottom to identify vulnerabilities.
Internal Audits
Evaluate your processes, controls, and systems to ensure they’re working effectively.
Fraud Prevention
Protect your business from internal and external threats.
Compliance Support
Stay aligned with Canadian laws and industry standards.
Strategic Planning
Turn risks into opportunities for growth.
Secure Your Business & Plan for the Future
Don’t wait for risks to turn into losses. Let Online Accountant provide expert internal audit and risk advisory services to keep your business safe, compliant, and financially sound.
FAQs
Your business internal controls and processes and risks go through thorough examinations as part of Internal Audit and Risk Advisory services to verify compliance and operational excellence and financial stability. The experts at our organization generate useful recommendations to minimize risks while delivering performance improvements.
An internal audit identifies weaknesses in your financial and operational processes, ensures compliance with Canadian regulations, and strengthens internal controls. It provides assurance to stakeholders and helps prevent fraud or inefficiencies.
We address financial, operational, compliance, and strategic risks. This includes risks related to tax compliance, cybersecurity, supply chain disruptions, and regulatory changes in Canada, ensuring your business is well-protected.
Yes, our audits and advisory services adhere to Canadian standards, including CPA Canada guidelines and regulations from the Canada Revenue Agency (CRA) and other regulatory bodies, ensuring full compliance.
The audit process consists of step-by-step procedures that involve planning then risk assessment followed by control testing and the creation of reporting results. Our auditing procedures feature industry-specific and business-scale approaches along with defined strategies to fix the analyzed problems.
Yes, our risk advisory includes evaluating cybersecurity risks, ensuring your data and systems are protected. We provide recommendations to strengthen IT controls in line with Canadian data protection laws.
These services deliver advantages to businesses of any kind ranging from new ventures to big corporations. These services are fundamental for organizations which need to enhance their governance systems while ensuring regulatory adherence in addition to handling complicated risks within Canadian business settings.
We serve diverse industries, including healthcare, manufacturing, technology, retail, and financial services. Our services are customized to address industry-specific risks and compliance requirements in Canada.
Our team uses advanced tools and integrates with your existing systems, such as ERP or accounting software, to conduct audits and risk assessments efficiently, minimizing disruption to your operations.
Contact Online Accountant for a free consultation. Our team will evaluate your business risks and compliance requirements to create specific strategies which ensure strong internal control systems and efficient risk management. Internal Audit and Risk Advisory services at our organization help your business build stronger resilience levels.
Our company offers professional services for compliance management and operational excellence and risk protection across all Canadian businesses.
