Not only is an internal audit important for ensuring information security and compliance with laws and regulations, but it is also a valuable way to evaluate business performance and manage risks. It is a useful tool for companies
of all kinds. An internal audit helps an organization define areas where it can improve, and also provides information needed to achieve its goals.
For company boards and management, an audit is a good time for reflection … Are we in the process of achieving our compliance goals? Is risk managed effectively? Are policies and procedures correctly applied? Can they be improved? These are just some of the questions that an internal audit can successfully answer.
What is the purpose of an internal audit?
Periodic auditing keeps a company – large or small – and all its employees in the best place. Regular internal audits are important for organisations in a wide range of industries, including financial institutions and healthcare providers. They are positive experiences for the company aimed at evaluating performance and identifying useful ways to improve in the future.
This should not be seen as an intimidating process for employees because the auditor is not there to blame. When employees are kept informed of upcoming audits and their scope, the process provides excellent insight that will help strengthen your company and help dominate the market.
Companies that periodically bring in an external auditor appear to have improved performance, risk management, regulatory compliance, management control and governance processes over time.
Hilkon Management & Consultancy can help you carry out your internal audit.