' Ariel Kessel & Co.

Certified Public Accountants (ISR.)


, 26 Moshe Aviv Tower, 26th Floor,

' ' 7, 7 Jabotinski Road,

- 52520 ': 03-7518188 Tel: : 03-7518187 Fax: Ramat-Gan 52520







Ariel Kessel & Co. is one of the leading Israeli firms in the fields of internal audit and consultancy services.

The company specializes in providing such services for large organizations with manifold financial activities.

Founded in 1999 Ariel Kessel and Co. employs professional staff, including accountants, economists, computer specialists and articled clerks.

The company's main partner is Ariel Kessel (CPA, CIA, MBA) was previously employed in the Audit Unit of the Accountant General of the Ministry of Finance. He brings to the firm 9 years experience of internal auditing and other areas of the company's expertise.


Ariel is a member of the Institute of the Certified Public Accountants in Israel and the Israeli Institute of Internal Auditors. He is a Certified Internal Auditor (CIA) from the Institute of Internal Auditors.


The firm specializes in internal audit (financial, operational, management, organizational), investigative audit, risk assessment, the compilation and execution of cost cutting and efficiency mechanisms, the preparation and implementation of working guidelines, audit of computer systems and more.


Areas of the Firm's Activities


  1. Internal audit, in particular financial audit, with special expertise in auditing public bodies.
  2. Standard, brief and purposeful audits in subsidiary companies, subsidized bodies, etc.
  3. Mapping and analysis of financial procedures and conducting risk assessments.
  4. Compiling and implementing mechanisms for efficiency and savings; ensuring the applicability of the programs to the work environment of the client or client organization.
  5. Organizational consultancy.
  6. Audit in a computerized environment, including payroll systems.
  7. Economic tasks.
  8. Investigative audit.
  9. Compiling and implementing of guidelines for working practice, with particular regard to financial procedures.
  10. Consultancy and guidance of the client's employees in the areas of the firm's expertise and implementation of guidelines for working practice.
  11. Real estate issues and infrastructural analysis.




1.      Internal Audit

1.      The firm a wealth of experience in conducting internal audits on a wide range of themes in the area of finance, financial operation, organization and management. Some examples:

a.       Internal audit of bodies, such as the Ministry of Health, Israel Railway, The Jewish Agency.

b.      Complex audits within the National Insurance Institute.

c.       Various audits, including real estate issues, for the Israel Land Authority.

d.      Internal and financial audits at several large hospitals, such as Rambam, Assaf Harofe, Ziv and more.

e.       Audit of anti-money laundering (AML) procedures in insurance companies.

f.       Various audits on behalf of the Internal Auditor of the Ministry of the Environment.

g.      Complex audits on behalf of the Audit Unit of the Accountant General (Ministry of Finance).

h.      Audits in the Education Ministry, including audits of teachers and administrative staff.


2.      Our areas of expertise include:

a.       The functioning of professional departments within organizations: complex internal audits on the theme of the functioning of professional departments with relation to the guidelines for working practices, their applicability to the organization and its policies, and creating of control mechanisms to ensure implementation of the structures established.

b.      Company infrastructure and the separation of responsibilities audits and consultancy in these areas critical to the implementation of internal control.

c.       Asset management and security both financial and non-financial assets.

d.      Acquisitions a wide range of audits in the area of acquisitions, including computer hardware and software, medical equipment, foodstuffs, perishables goods, etc.

e.       Income Mapping and audit of the processes by which income is received.

f.       Inventory audit and consultancy in the management of this high-risk asset.

g.      Salaries examination of salary control mechanisms in a computerized environment and conducting of audits of professional groups with complex salary schemes, such as: doctors, teachers, state employees with special salary schemes, etc.

h.      Contracts and payments to consultants many complex audits, including investigative audits, on the methods of arranging contracts, the fixing of rates and payments made to consultants whilst taking into consideration the consultancy work carried out.

i.        Complex accounts and payments many complex audits in these areas, including investigative audits.

j.        Various other areas budget management and supervision in the client organization, accounts with manpower agencies, etc.



2.      A Model for Standardized Audits in Subsidiary Companies and Subsidized Bodies

The firm has developed a model for carrying out standardized, purposeful and brief audits in subsidiary companies, subsidized bodies, etc., on behalf of the parent body. The aim of the audits is to establish systems for the activities of the organization in general but, with emphasis on critical areas in the organization's working procedures. Checking the critical areas also enables assessment of existing working processes in related areas.



3.      Mapping of Processes and Conducting Risk-Assessments

The firm has carried out process-mapping and risk assessment in a range of bodies, for example, a public institute with an annual turnover of billions of shekels. Within this framework, the firm mapped all the financial activities carried out by the institute in terms of the risks it faces. The aim of the risk assessment was to track areas in which the institute was exposed to financial losses, disarray, inefficiency, errors etc.

Assessing the risk in each activity helps in allocating the auditing facilities available and in establishing priorities within the audit plan.


4.      Construction and Implementation of Cost-Cutting and Efficiency Mechanisms

The firm develops models and procedures based on a wealth of knowledge and experience acquired in a wide range of areas, the models having been founded on mechanisms and multi-discipline methodologies developed over the years. The models are designed to analyse critical financial processes in large and complex organizations and to provide an all-encompassing response to maximize these processes.

The immediate consequence of the optimisation expresses itself in a drastic reduction of costs and great saving to the organization. The models thus secure the organization's goals in a manner which guarantees ongoing success. Improvement in the organization's working processes enables it to carry out independent measures in the spirit of previous ones in order to assure permanent future success.


5.      Organizational Consultancy

Within the framework of its activity, the firm has carried out various organizational checks with the aim of enabling the organization to maintain an efficient and effective system that is based on over-riding principles: Improved efficiency in methods of management and establishing an appropriate hierarchical structure, defining the required resources for suitable execution of various tasks, tightening of internal control and supervision and improving working practice, even in areas where deficiencies were not found, improved professionalism of the staff, improved service etc.

The checks include carrying out a series of interviews with relevant personell, analysing facts and documents, investigating employment agreements and payroll systems, dissecting and examining working procedures and guidelines, investigating the efficiency of the human resources, etc. The outcome of the firm's work is appropriate for organizational changes and improved working procedures for the whole organization.


6.      Audit in a Computerized Environment

The firm specializes in characterizing and analyzing systems, customizing them to the users' needs, and assessing the controls existing in the system and customizing them to the principles of internal control.

The firm also has experience in computerized audit, including SAP systems.

As a result of the audit, in which assessing the deficiencies within a system and the implementation of the recommendations are carried out by one body, the optimal solution is created whilst ensuring great savings in costs.



7.      Economic Tasks

The firm has carried out various economic tasks, such as: appropriate allocation of overheads, assessing the economic value of contracts, pricing checks, assessing the value of investments, economic checks for real estate projects utilising cash flow predictions to estimate current values, economic assessments of fees charged, and many more.



8.      Investigative Audit

In the past five years, the firm has conducted a range of investigative audits in bodies with annual turnovers of hundreds of millions of shekels.

The following are a selection of such investigative audits:



9.      Preparation of Guidelines for Working Practice

The firm specializes in the preparation of guidelines for working practice: with the aim of establishing methods of work according to the regulations relevant to the client organization whilst maintaining high standards and principles of internal control in order to establish a unified and methodological treatment of the areas covered by the guidelines.

The guidelines are prepared in accordance with the rules and regulations applicable to the client body; particular attention is paid to its special requirements and functions. As part of its work, Ariel Kessel & Co. has prepared guidelines in areas such as: acquisitions, payments, inventory, use of the organizations fleet of cars.


10.  Staff Guidance

We have an "added value", approach and believe firmly that continuing to secure positive results even after the conclusion of the project is of the utmost importance. The firm thus implements relevant procedures and training of the client's staff in order to provide maximum assistance in the execution of future decisions made by the organization.


11.  Financial Issues in Real Estate

The partners and firm have rich experience in conducting various audits in the field of construction and infrastructure, and in financial risk assessment in infrastructural activities of public bodies.

  1. Ra'anana shopping mall: On behalf of the Israel Land Administration, the firm investigated the assessment carried out on behalf of the owners.
    This assessment has been one of the most complex and problematic assessments carried out in Israel in recent years.
  2. Trans-Israel Highway and the Jerusalem Light Railway project: On behalf of the Ministry of Transportation of the.
  3. Government and Judicial Buildings Project the firm serves as the internal auditors of this particularly complex project valued at $670 million.
  4. Real estate transactions The implementation of the regulations applying to the Israel Land Authority concerning real estate transactions.
  5. Requisitions and exchanges familiarity with these specialized transactions which are a central feature of infrastructure projects.
  6. Land assessment a thorough understanding of the field of land assessment, and professional guidance in carrying out complex assessments.