What is Internal Audit?
Internal audit is an independent, objective assurance and consulting activity designed to add value to and improve an organization’s operations.
The role of this audit is to provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively.
An internal audit may be used to assess an organization’s performance or the execution of a process against a number of standards, policies, metrics, or regulations.
Internal audits may include examining a business’s internal controls around corporate governance, accounting, financial reporting, and IT general controls.
Auditors may cover all areas of an organization or specialize based on their skill-sets.
In simple words we can say Internal audits evaluate a company’s internal controls.
What are the Types of Internal Audits?
Some types are:
- Compliance Audit
- IT Audit
- Operation Audit
- Performance Audit
This allows the company’s Board and management to get more frequent/timely information that they may use to govern and improve the organization.
It is important for the organization to select the right audit firm. Although there are many audit services pan India, finding a reliable partner who understands your business needs and tailors their services to match them is a difficult task.
If you are looking for a trustworthy audit partner, VGNC is the answer to all your business needs.
VGNC is a global business advisory firm based in Delhi that offers customized tailored Internal audit services.
Audit is one of the major factors that play a crucial role in your organization’s assurance environment. Audit, acting as a valuable tool, contributes to the effective management of risk and better control and governance within an organization.
VGNC is the answer to all your business needs. VGNC is a global business advisory firm based in Delhi that offers customised tailored all types of audit services. Our expert team will love to answer your questions.
