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 system process, transaction procedures and controls
- Independent assessment on design and operating the effectiveness of internal controls
- Helps to develop and promote a strong culture of internal controls
- Confirmation of the organisation’s 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.
More Information on Internal Audit?
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