Internal auditing,an independent consulting activity is being undertaken by organizations to check and improve the business operations by maximizing the firm’s value. Many organizations have a system of internal audit as an integral part of its internal control.
The internal audit function aids an organization in protecting against both current and emerging risks, such as those related to new technology. It not only keeps the record of the past information, but also focuses on the current operational objectives as well as future risk mitigation and organizational success.
There are several advantages of Internal Auditing:
- Internal Auditing helps an organization in achieving its business goal with the help of a disciplined approach for evaluating the performance of the management system and control processes being adopted by the firm.
- It appraises the firm’s economy and efficiency by facilitating the early detection and prevention of frauds.It also detects the misuse of resources in time which helps to reduce unnecessary expenses.
- An internal auditing helps in identifying the weaknesses in the organizational systems and suggests improvements. It can also uncover inaccuracies and discrepancies within an organization’s records.
- Internal auditing can improve a company’s efficiency and profitability by helping the management in having a better understand of their own working systems.
To assist management in achieving the most efficient administration, ‘Wemark’ offers Compliance Audits, Tax Audits, Health and Safety Audits, Food and Quality Control Audits and many more.
We ensure audits as well as generate reports based on the internal audits, giving an overview of the areas that require improvement. Having an internal audit partner like ‘Wemark’ that is experienced in numerous operational approaches, a firm can easily exceed its turnover.
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