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| As designing effective internal control is essential for business entities to ensure that the company is driven in an efficient and effective manner fulfilling the business entity’s objectives. But, the cycle is endless, where each company needs to monitor and review its internal control. |
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| From that perspective, the Central Bank of Kuwait communicated its instructions to banks, investment companies working in financing activities, and exchange companies to establish effective internal control systems and assess their effectiveness by an independent licensed auditor. |
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| Baker Tilly Kuwait review internal control covering its main three components which are organization, systems, and polices & procedures, to provide reasonable assurance - not an absolute guarantee - that internal control is achieving targeted objectives: |
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Accurate and reliable financial reporting |
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Compliance with laws and regulations |
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Effectiveness and efficiency of operations |
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| Business entities get benefits from such services by providing reasonable assurance for the following parties: |
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Board of Directors |
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Central Bank of Kuwait |
| c. |
Internal Auditor |
| d. |
External Auditor |
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| Baker Tilly Kuwait has a diversified experience which provides us with up-to-date practices in all types of business industries, reflecting on a comprehensive understanding of enterprise risks, related effective controls, and types of evidences required to assess internal control effectiveness. |
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Also, Baker Tilly Kuwait designs effective and cost-effective internal control. For more information, please visit our
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