untitled.bmp

What does Internal Audit Look for?

 

Basically, Internal Audit looks at what is happening and compares it to what should be happening, as defined by:

 

  • Laws, rules, regulations, policies
  • Sound business practices
  • Strategic Planning - clarity of objectives/goals; risk assessment
  • Culture, Management Style, Synergism
  • Knowledge of authority
  • Clarity of responsibilities
  • Communication
  • Awareness of applicable laws, rules, regulations, policies
  • Presence of controls to ensure objective are achieved
  • Segregation of responsibilities
  • Monitoring
  • Evaluation and continuous improvement