Internal audit

Background

Fahn Kanne Control Management renders internal auditing and control services to a wide variety of entities operating in various fields of endeavor. Over the years, we have amassed expertise in rendering services to government institutions, publicly-traded companies listed on Israeli and global capital markets, large private companies, multinational companies, not-for-profit organizations and other entities. At present, Fahn Kanne Control Management is considered Israel’s leading provider of control and auditing services, process analyses (operational and financial) and performance of risk assessments.

Our firm is ranked in first place in the field of internal auditing, based on the BDI ranking. 

To view the BDI rating click here

Our services are geared to provide a response to the very difficult questions plaguing organization management, such as:

Have the risk areas of the business been properly identified? Have appropriate controls been developed to control such risks? Is reported data accurate and reliable? Does the organization have proper control tools to monitor the reporting units? Can cost savings be improved in the organization by making processes more efficient? Do employees fully carry out management directives? The proper response to these questions is good internal auditing, auditing conducted ar the highest professional level, with the personal involvement of the partners in charge. It is this quality of auditing that we offer our clients.

The star method

Our firm consists of dedicated departments. During the course of an internal audit, we are assisted by experts from the following individual departments, based on the nature and needs of the specific audit. We coin this method, in which the client obtains the best of the expertise that we are able to offer, within the framework of a pre-defined budget, as the “star method”:

• Information systems and cyber department – The department integrates know-how and experience in the fields of auditing and control with its expertise in the field of information systems. The department has extensive experience in examining the propriety of the operations of the computerized systems, checking the quality of the data in the databases, identifying errors and problems examining the fairness of the organization’s information security, identifying computer-related fraud, etc. The department’s experts comprise part of the internal audit team which performs computer-focused audit tasks.
• Investigative auditing department – The department has amassed experience in carrying out dozens of investigative audits with a goal of identifying fraud, embezzlements and white-collar crimes. The department consults for various organizations with regard to embezzlement prevention. The department’s experts comprise part of the internal audit team which performs forensic-related audit tasks.
• Payroll control department – The department specializes in improving control systems relating to payroll, through computerized tools. Use of effective and smart control tools developed by Fahn Kanne Control Management allows organizations to identify deviances and unreasonable data in the payroll preparation process. The department’s experts comprise part of the internal audit team which performs payroll-related audit tasks.
• Financial control department – The department specializes in audits of a variety of banking activities and operations, including credit and collateral, foreign currency, securities and the capital markets. The department’s experts comprise part of the internal audit team which performs financial-related audit tasks.
• Third-party consultants, when needed, are consulted at no additional cost to the client, in order to maximize the benefits of the audit. Examples of fields of expertise are: engineers, supply-chain experts, insurance consultants, environmental quality experts, etc.

Our firm has unique expertise in conducting audits in the following industries, among others:

• Government companies
• Hitech
• Industry
• Institutional entities and financial organizations
• Food and pharma
• Not-for-profit organization and charitable corporations
• Educational institutions

Our added value

Our work methods and approach are based on our more than 25 years’ of know-how and experience in working with a broad variety of companies and an in-depth understanding of many operating sectors in Israel and around the world. Our firm integrates high-level professional capabilities, a systemic approach and a commitment to render quality services.

As the Israeli-member firm of Grant Thornton International, we are deeply committed to compliance with high-level international standards and we offer:

• The personal touch, with a very high level of senior management involvement in all of our projects
• Compliance with international standards of the highest quality
• Ability to contend with issues requiring country-specific expertise (local customs, legislation, etc.) by partnering with staff members of local members of the Grant Thornton International network.