Financial advisory
Internal controls and risk advisory in Qatar
Thiqa Consulting carries out internal control reviews in Qatar for companies that want fewer errors, less fraud risk and clearer approvals. We assess your risks, review controls in key processes and separation of duties, check the approval structure and give you an action plan to close the gaps. Tell us your concerns and we send a proposal.
Coloured ring binders on a shelf, each labelled by year
- Risk assessmentWhere the business is most exposed
- Key process controlsPurchasing, sales, payroll, cash and inventory
- Separation of dutiesNo one person controls a whole transaction
- Action planClear fixes, owners and priorities
Who needs an internal control review
Growing companies where the owner can no longer check every payment, and businesses that have found errors, losses or fraud. It also helps before a sale, an investment or a change of management.
Boards and audit committees use the review to see whether controls work in practice, not just on paper, and to agree what to fix first.
What we do
We look at how your processes work in practice, then tell you what to fix and in what order.
Risk assessment
We identify the main financial and operational risks and rank them.
Purchasing and payments
We test how suppliers are chosen, orders approved and payments released.
Sales, payroll and inventory
We review the controls over revenue, salaries and stock.
Separation of duties
We check that no one person can start, approve and record a transaction.
Governance and approvals
We review who can approve what, and how the board oversees it.
Action plan
A ranked list of fixes, with owners, to close the gaps.
How a control review works
- 1
Agree the focus
We confirm the processes, locations and risks that matter most.
- 2
Map the processes
We talk to your team and record how each process really runs.
- 3
Test the controls
We check samples to see whether controls work as intended.
- 4
Report and plan
You get our findings and an action plan, and we go through it with you.
Information we need from you
- Organisation chart and job roles
- Policies and procedures, if written
- Authority and approval limits
- User access lists for the accounting system
- Recent audit findings or management letters
- Access to the staff who run each process
Get expert advice for your business
Tell us what you need. We reply with a written proposal covering the scope, the documents we need and the timeline.
Common questions about internal controls and risk advisory
Answers about the service, the work involved and what to prepare. Open a question to read more.
What is an internal control review?
An internal control review checks whether the rules and checks in a company’s processes work as intended. It looks at how transactions are started, approved, recorded and reviewed, finds gaps that could allow errors or fraud, and recommends fixes. The result is usually a report with findings ranked by risk and an action plan.
What is separation of duties?
Separation of duties means splitting a transaction between different people, so no one person can start it, approve it, record it and handle the cash. For example, the person who adds a new supplier should not also approve payments to it. Smaller teams can use extra reviews where full separation is not possible.
What are the main types of internal controls?
Preventive controls stop problems before they happen, such as approval limits and system access rights. Detective controls find problems after they happen, such as bank reconciliations and stock counts. Corrective controls fix what was found. A strong control system uses a mix of all three across the key processes.
How is a risk assessment done?
A risk assessment lists what could go wrong in the business, then rates each risk by how likely it is and how much harm it would cause. The highest risks are compared with the controls already in place. Where controls are weak or missing, the gaps go into the action plan first.
What is the difference between an internal control review and an internal audit?
An internal control review is a focused piece of work that maps and tests controls in chosen processes and recommends fixes. Internal audit is an ongoing function that reports to the board or audit committee and checks controls, compliance and risk throughout the year. A control review is often the starting point.
Tell us what you need. We reply with a written proposal.
You get the scope, the papers we need and the time it takes.
- 1You send your details by WhatsApp or email.
- 2We read them and ask anything we need to know.
- 3You get a written proposal: scope, papers and timing.