The objectives of internal audit typically include:
Assurance of Compliance: Ensuring that the organization complies with relevant laws, regulations, policies, and procedures.
Risk Assessment and Management: Identifying and evaluating risks faced by the organization and recommending controls to mitigate those risks.
Operational Efficiency: Assessing the efficiency and effectiveness of operations, including processes, systems, and controls, and suggesting improvements where necessary.
Financial Integrity: Verifying the accuracy and reliability of financial information and reporting to stakeholders, including management and shareholders.
Safeguarding Assets: Ensuring that the organization's assets are safeguarded against loss, theft, or misuse.
Strategic Alignment: Assessing whether organizational objectives are aligned with the overall strategy and providing recommendations to improve alignment if necessary.
Fraud Prevention and Detection: Identifying and preventing fraudulent activities within the organization through the implementation of effective controls and detection mechanisms.
Continuous Improvement: Contributing to the continuous improvement of governance, risk management, and internal control processes within the organization.
You must log in or register a new account in order to contact the publisher