The Institute of Internal Auditors defines internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations. Internal auditing helps an organisation to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, controls and governance processes.
Why Internal Audit
By outsourcing internal auditing to Valuemax you ensure independence of the auditor from your employees. Independence is critical to the outcome of internal audit activities. To be fully effective, internal audit requires diversified skills that many organisations find difficult to source and retain. This is because it requires significant investment in recruiting, training and professionally developing skilled internal audit personnel. In addition, by outsourcing auditing services, the organisation is able to focus more on its core business activities.
A common arrangement is where we conduct periodical audits, say on quarterly basis, and then follow up with staff to ensure implementation and then report progress to management.
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