Internal Auditing and Advisory Services
What is Internal Auditing?
Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.
The objectives of internal auditing include:
- Assisting management and the Board in discharging their responsibilities concerning:
- Risk management and the system of internal control;
- Efficiency and effectiveness of business processes; and
- Compliance with internal policies and procedures.
- Focus internal audit efforts on an organization’s most significant business risks.
- Evaluate the adequacy and application of key internal controls present to mitigate those risks and exposures.
- Evaluate the adequacy and efficiency of business processes.
- Evaluate compliance with policies, procedures, and regulations.
- Assist in the development of action plans that improve performance and drive meaningful change.
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