United Arab Emirates
Internal auditing can be defined as a process of monitoring and making sure that all the assets of your business have been properly safeguarded and controls are in place so that the assets are not vulnerable to any kind of threat.
This also includes ensuring that the processes associated with your business are operating and correctly documented according to the various policies and procedures.
To help you understand more, we have explained why internal auditing is crucial for your business.
Benefits of Internal Auditing
- Since it is your own business, it is not possible for you to have an objective insight for your own business. This may create a conflict of interest. The internal auditor which does your internal audit only can remain neutral about things, and can advise you on how you can improve your operational responsibility, and cross train employees for auditing of another department in the business. This also adds an independent and unbiased point of view in the business.
- Internal auditing enhances the efficiency of your business. It helps in making sure that your business recognizes adequate risks and identifies controlling procedures to enhance the effectiveness of the processes. It also helps the business as a whole to be dependent on processes and not the people working in the organization.
- Regular internal auditing can also help in evaluating assets and protecting the business from various risks. It helps in management of risks and prioritizes the risks to be handled which can affect the working of the organization. It also creates remediation plans for the business to be able to work in a better way.
Internal audit. therefore, is vital. It can’t be skipped. You need a trusted internal auditing service to keep your business processes transparent.
Premier Brains, with its highly qualified and experienced professionals, provides high quality and reliable internal audit services.
If you would like to discuss more internal audit. please drop us an email at info@premier-brains.com or call us at + 971 4 3542959.
This document is only for information purposes and should not be construed as an advice. It does not necessarily cover each aspect of the topic with which it deals. You should not act upon the contents of this document without receiving formal advice on your particular circumstances.