Internal Audit

Internal Audit

Internal audit is a type of consulting engagement and an objective assessment of an Enterprise’s operations. Internal audit can be conducted to assess the strengths and weakness of financial, operational and information technology systems. Having regular internal audits can help a business improve governance, reduce risks, obtain insights and develop good management systems. Having a good internal audit team committed to independence, integrity and accountability, would serve as an excellent source of advice for the Management team.

Internal Auditors unlike Statutory Auditors do not have any statutory or legal responsibilities. Hence, internal Auditors have the liberty to consider issues beyond their scope of the audit and can help an organization with its growth. Hence, a good internal audit not only provides assurance, but also consulting to help the business improve or mitigate weakness. SLG Professional Solutions can help you find an experienced internal auditor for your Business.

Benefits of Internal Audit

Management Tool
An internal audit can help provide an independent and objective opinion about the operations of a business. Hence, internal audits serve as a management tool for good governance.

Early Warning
Internal audits provide early warning to the Management on deficiencies or loopholes in the business. Thus, internal audits can help prevent costly mistakes or frauds in the business.

Improves Accountability
Having a strong internal audit mechanism with a surprise check will help improve accountability of the employees and ensure that systems and processes are followed properly.