NUSDAT-UTS is a reliable provider of auditing and certification services. We have experienced assessors of ISO 9001 and 15001. Our extensive knowledge of regulatory compliance around the world, combined with our highly experienced auditors, allows us to provide you with a quick and efficient service. We are committed to assisting you in becoming more consistent, efficient, and compliant, allowing you to bring products to market faster, avoid liabilities, and increase profits.
What Is an Internal Audit?
Internal audits evaluate a company’s internal controls and processes. These audits ensure compliance with laws and regulations and help to maintain accurate and timely reporting and data collection.
Why do you need Internal Audit in your process and what NUSDAT-UTS can offer you?
Internal auditing programs are critical for monitoring and assuring that all of your business assets have been properly secured and safeguarded from threats. It is also important for verifying that your business processes reflect your documented policies and procedures.
Here are the 5 top reasons to perform an internal audit in your process:
Provides objective insight: You can’t audit your own work without having a definite conflict of interest. Your internal auditor, or internal audit team, cannot have any operational responsibility to achieve this objective insight. By providing an independent and unbiased view, the internal audit function adds value to your progress.
Improves efficiency of operations: By objectively reviewing your policies and procedures, you can receive assurance that you are doing what your policies and procedures say you are doing, and that these processes are adequate in mitigating your unique risks.
By continuously monitoring and reviewing your processes, you can identify control recommendations to improve the efficiency and effectiveness of these processes. In turn, allowing your organization to be dependent on processes, rather than people.
Evaluates risks and protects assets: An internal audit program assists management and stakeholders by identifying and prioritizing risks through a systematic risk assessment. A risk assessment can help to identify any gaps in the environment and allow for a remediation plan to take place.
Your internal audit program will help you to track and document any changes that have been made to your environment and ensure the mitigation of any found risks.
Assesses organizational controls: Internal auditing is beneficial because it improves the control environment of the organization by assessing efficiency and operating effectiveness. Are your controls fulfilling their purpose? Are they adequate in mitigating risk?
Ensures legal compliance: By regularly performing an internal audit, you can ensure compliance with any and all relevant laws and regulations according to specific standards. It can also help provide you with peace of mind that you are prepared for you next external audit. Gaining client trust and avoiding costly fines associated with non-compliance makes internal auditing an important and worthwhile activity for your organization. NUSDAT-UTS can offer all these facilities to build your own internal audit program.
Still have confusions about internal audit program? Contact us today and let’s start building your internal audit program together.