The internal auditor must always have a clear understanding of what is happening in the company and where it must come to become more successful. New technologies, growth in the volume and speed of data exchange, global economic development- all these changes are the requirements for companies. New challenges and risks appear. The internal audit…
Although the concept of auditing tends to generate a bit of fear, the benefits that are achieved by auditing different areas of productive activity are numerous. Audit companies can do a lot for your business, they are an ally! The concept of audit refers to an analysis or examination that is carried out on a…
The profession of an internal auditor is very interesting, but at the same time, it is responsible and requires a significant amount of knowledge, skills in working with arrays of often unstructured information, systematic thinking, understanding, and adherence to professional ethics, and much more. It is no secret that in the process of performing their…
In addition to control tasks, internal auditors can perform economic diagnostics, develop a financial strategy, conduct marketing research, and management consulting. Internal audit is an independent study and assessment of all aspects of an organization’s activities: improving the efficiency of the internal control system, as well as the risk management system and the corporate governance…
The accounting records in a company are essential for its success, since, in addition to helping in making strategic decisions, it is the way to constantly evaluate the state of its finances and guarantee its profitability. The importance of keeping proper accounting in the company is such that without it you would not know how…
A few years ago, it was not accepted to talk about internal audit as a profession. In many companies, employees of internal audit services or specialists acting as internal auditors have held positions of economists, financial analysts, and accountants. Gradually, internal audit is being formalized into a full-fledged profession with all its attributes and…
To make and implement the most effective management decisions from the point of view of the strategic development of an economic entity, constant and effective internal control is required at all stages of the management process. In market conditions, the basis for the stable position of any economic entity is its financial condition, the measure…
In the face of economic uncertainty, internal audit has become a critical resource that can help companies improve their internal control and risk management systems and improve overall business performance. And if 2-3 years ago, managers preferred to outsource many of its functions, today there is a tendency in the market to massively attract internal…
Today the concept of “internal audit” has become widespread in business. Many large enterprises and companies prefer to create their internal audit services and departments, training their employees. When deciding to conduct an internal audit, it is necessary to determine its subordination to the audit committee of the board of directors or directly to the…
Internal audit staff conducts an independent assessment of all systems and processes of the organization from the point of view of how effectively current tasks are being solved and goals are being achieved. They make recommendations to remove bottlenecks, mitigate risks, and as a result they make sure that systems and processes are improved. Firstly,…
