In recent years, there has been an increase in the importance of internal auditing in organizations. The goal of this audit is to reduce the risks to which the organization is exposed.
Fahn Kanne Control Management Ltd. renders internal auditing and control services to a broad range of entities that operate in various areas of activity. Over the years, we have amassed expertise in render services to government institutions, public companies traded on Israel and global exchanges, large private companies, multi-national companies, not-for-profit organizations and other entities. At present, Fahn Kanne Control Management Ltd. is considered Israel's leading firm in the rendering of control and auditing services process analysis (operational and financial) and the conducting of risk assessments.
Our services are rendered with a goal of providing answers to very weighty questions that occupy management of the organization, such as: have the risk areas in the business been identified? Have appropriate controls been developed to control these risks? Is the reported information accurate and reliable? Are there proper tools to monitor the reported units? Is it possible to improve the savings at the organization by streamlining process? Do the employees of the Company execute the orders of management in their entirety? The answer to these questions are good internal auditing, auditing that is carried out at a high professional level with the personal and continual involvement of the partners-in-charge. This is the type of audit that we offer to our clients.
Our firm consists of departments that specialize in various disciplines. During the course of an internal audit, we utilize the services of experts from the other departments, based on the nature and the needs of the audit. We coin this method, in which the client obtains the best expertise that we have to offer as part of the pre-determined budget, the "star" method. Our professional departments are broken down as follows:
- Information systems audit department – The department combines know-how and expertise in the fields of auditing and control, with expertise in the field of information systems. The department has extensive experience in checking the proper functioning of computerized systems, checking the quality of the information found in databases and identification of errors and deviations, checking the propriety of the organization's data security, identification of frauds perpetrated through the use of computers, etc. The experts of the department constitute part of the internal audit team and carry out audit tasks dealing with computer-related issues.
- Forensic accounting department – The department has amassed experience in conducting dozens of accounting investigations for purposes of identifying fraud, embezzlement and white collar crimes. The department consults various organizations on embezzlement prevention. The experts of the department constitute part of the internal audit team and carry out audit tasks dealing with investigative issues.
- Payroll control department – The department specializes in improving control frameworks in connection with an organization's payroll, using computerized tools. Use of effective and smart control tools developed by our firm enables our clients to identify deviances and unreasonable occurrences as part of the payroll preparation process. The experts of the department constitute part of the internal audit team and carry out audit tasks dealing with the payroll process.
- Financial control department – The department specializes in audits in a variety of fields and activities related to the banking industry, including in the areas of credit and collateral, foreign currency and securities and the capital markets. The experts of the department constitute part of the internal audit team and carry out audit tasks dealing with financial issues.
- Third party consultants are used when necessary, without any additional fees on the part of the client. By using outside consultants, we maximize the effectiveness of the audit. Such consultants include engineers, supply chain experts, safety consultants, environmental quality consultants, etc.
Our firm has unique expertise in conducting audits in the following areas:
- Institutional and financial entities
- Food and pharmaceuticals
- Government companies
- Not-for profit organization and charitable associations
- Educational institutions