04 July 2016

Impact of Internal Audits in business process

Impact of Internal Audits in business process

The current business environment has turned its spotlight towards internal audit management system that drives effective compliance and improves quality. Internal Audit helps an organization to achieve its objectives by bringing a streamlined systematic approach to evaluate and improve the effectiveness of process followed. Internal audit chiefly covers analysing,  assessing an organization’s current process, procedures and making progress towards defined objectives. Effective internal audit management system can be a built-in component to the manage quality process that keeps business aligned to the mission.

Periodical Internal audits reduces the risk in process gaps, improves transparency in reporting and strengthens compliance up to standards.

The biggest advantage of internal audit is that it will lead to discovery of process conformities and non-conformities. Therefore, when external audit is done those gaps which were discovered during internal audit would have been rectified. This constant procedure ensures records are regularly checked and ensures records are up to date and always vigilant

Organizations can derive significant business value from the internal audit function at multiple levels and below are the impacts that an internal audit can provide for businesses

  • Makes the organization be more process oriented
  • Helps in identifying employee knowledge gaps, behavior gaps or training gaps that leads to quality service
  • Assists in identifying risks, which leads to fail in achieving performance targets
  • in-house audit team helps in gaining transparency across organizations process
  • Helps to ascertain whether results are consistent with established organizations objectives and goals
  • Also analyzes whether the meetings /programs/training’s are being carried out as planned

Thus conducting internal audits helps businesses to achieve sound strategies that drives organization to next level. To get details on quality management software with Audit management feature Contact us