The Impact of Internal Audits on Business Efficiency
Internal Audit is part of governance framework and is a service unit established to provide an independent appraisal, advisory and assurance on business operations. Internal audits aim to appraise the effectiveness of the internal controls or process and determine compliance with the relevant company policies, advise the management on the adequacy and effectiveness of the company systems and provide proposals on continuous improvement. Moreover, internal audits are instrumental in proactive risk management.
Incorporating internal audit function into the regular management cycle enables organizations to achieve efficiency, strategic objectives, maintain high standards of operations, transparency, and accountability.
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