The term “audit” refers to an official inspection of an individual’s or organization’s accounts, typically by an independent body. It is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ensure their correctness in terms of the accounting principles and the statutory requirements of the laws. Thus, and audit ensures the absolute correctness of the financial matters of a business to ensure that the financial statements prepared by the accounting department of a business and non-financial disclosure made by the management represent the true and fair view of the concern.
How an organization conducts an internal audit
An audit is typically conducted by the external auditors which is a statutory requirement for many businesses. However, certain business organizations have their own special department to conduct a regular internal audit of the business affairs; certain big business organizations make use of บริการ ตรวจ สอบ ภายใน which is an external organization offering audit services to business organizations.
How internal audit service is helpful
Internal audit is an objective assurance and consulting activity that adds to the prestige and value and helps to improve the organization’s operations. This is an approach that brings the effectiveness by improving the control and governance process. Internal Audit Service assists board and senior executives to manage organization risks in a better way. Thus, the organization receives an understanding of the quality and value of the internal audit team, causing improvement in the operating efficiency and performance.
Why use internal audit service
Internal audit is quite useful from the perspective of organizational development because it brings consistency in the workflow and business performance. Internal Audit Service professionals prepare customized inspection reports that presenting therein the areas in which improvements are needed. They also offer consulting to make improvements so that the weaknesses may be overcome. This helps the organization to make planning and strategy to proceed in accordance with the suggestions and recommendations.