A. Common Pain Points Faced by CFOs in Internal Audit

Many Chief Financial Officers (CFOs) face several challenges when dealing with internal audit functions. At Azebon Services, we understand these concerns and design our audit approach to address them effectively.

Some of the most common pain points include:

• Limited time available for CFOs to deeply understand and monitor the evolving dynamics of the company’s business operations.
• A transaction-focused audit approach adopted by many internal auditors, which often does not align with CFO expectations of a system-driven and process-oriented audit.
• Frequent changes in audit team members, resulting in internal audit engagements being treated as training grounds for interns or new trainees.
• Lack of familiarity among audit staff with major ERP systems such as Oracle, SAP, BAAN, Navision, and other enterprise software, indicating limited IT-oriented audit capability.
• Insufficient expertise to comprehensively assess organizational risks, particularly those related to compliance and operational risk management.

B. Our Approach to Internal Audit

At Azebon Services, we adopt a structured and professional approach to internal auditing, ensuring consistency, reliability, and continuous improvement.

Our internal audit approach includes:

• Continuous investment in our audit professionals through regular training, skill development, and knowledge enhancement programs.
• Maintaining complete and well-structured documentation, enabling proactive preparation for future audit cycles.
• Using a real-time project monitoring system, which allows clients to track the progress of internal audit activities transparently.
• Strong emphasis on evaluating internal control systems and providing practical recommendations to strengthen operational efficiency and risk management.

C. Our Execution Strategy