What Is Internal Audit?
- » An independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations.
Benefits of Internal Audit
- » Provision of a general assurance role on control procedures
- » Independent assessment on the effectiveness of internal control
- » Helps to develop and promote a strong culture of internal control
- » Confirmation of the organisations compliance with regulations, policies and procedures
- » Provision of advice on best practice
- » The company pays only for the time provided by the contractor
- » All related costs such as training, sick time, maternity leave, holiday pay etc, are direct costs of the contractor rather than the user
- » Professional standards and quality of work. Such standards would most likely not otherwise be attainable at a reasonable cost.
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