A internal audit acts, through research, interpretations and opinions, as a way of evaluating a company's internal control system, presenting data and qualitative information to leaders. Basically, the purpose of internal audit it can be represented by some objectives such as verifying the effectiveness and efficiency of internal controls, using methods to safeguard assets and guaranteeing the integrity of records and information.
But internal audit it goes much further than that. Is it over there plays a fundamental role for the company, ensuring the adequacy and effectiveness of internal controls and the reliability of information, for example.
It is one of the leaders' concerns to anticipate changes to positively guarantee their effects on the company, making the role of internal audit becomes essential, as it provides valuable information that helps the company create strategies to minimize the impacts of these changes.
A internal audit is attentive to each phase of a company's growth and development, managing to form a model of interaction with it, which provides a positive reach in forecasting and diagnosis actions, that is, the great advantage of internal audit is to have permanent control of management processes.
In many cases the internal audit it is considered punitive, when, on the contrary, it plays a fundamental role in improving management, since its main objective is not to find errors, but to monitor internal controls until they achieve their real efficiency. Checking possible failures or errors that generate risks to the company and make the internal control of organizations inefficient is one of the functions of internal audit, however, these are actions that increase your contribution according to the company's development.
As the organization moves through the changes, the focus of the internal audit varies over time, because as these changes happen quickly, important details in one phase may become less significant in another, making internal audit always in line with the company's objectives.
In this way, the growth and changes in the company strongly reflect on the role of internal audit, who understands the organization as a whole and helps it with its needs and expectations. THE internal audit is always attentive and ready to help, reinforcing new rules and analyzing possible failures in internal controls.
With the frequent implantation of new values in the market, also driven by the advance of technology, it becomes necessary to have a different vision of the internal audit, as a measurement and prevention work, which aims to seek improvement for existing problems and prevent future problems.
What is the difference between internal audit and external audit?
A internal audit is a function that, while operating independently of other departments and reporting directly to the audit committee or company president, resides within an organization (ie, they are company employees or contractors). It is responsible for carrying out audits (financial and non-financial) within a wide range of areas within a company, as indicated by the annual audit plan. the look of internal audit is focused on the main risks facing the company and what is being done to manage those risks effectively to help the organization achieve its objectives.
The external audit is an independent body that resides outside the organization. They are focused on the financial, accounting and economic information or risk associated with finance and are appointed by the company's shareholders/owners. The main responsibility of the external audit is to carry out the legal review of the financial information, providing an opinion on whether they are a true reflection of the company's financial situation.
For entrepreneurs and managers who want start a process of internal audit in their companies or sectors, hiring an external consultancy is the best solution if we take into account factors such as effectiveness, experience and methodology.
hiring the consulting on internal audit, the company protects itself against common mistakes that happen due to lack of familiarity with the necessary processes. On the other hand, the biggest benefit is the fact of ensuring a standard that will in fact point out elements to be improved.
Comprised of multidisciplinary professionals with over 25 years of experience in the auditing segment, Taticca Allinial Global Brasil offers the following variations of internal audit: Co-sourcing or outsourcing, internal audit planning, review of the internal audit structure, structuring the internal audit function, process auditing with a focus on risks and controls, auditing with a focus on financial integrity - accounting, reporting and controls, auditing technical and operational.
Get in touch with TATICCA – ALLINIAL GLOBAL, which works with integrated auditing services, internal audit, accounting, tax, corporate finance, financial advisory, risk advisory, technology, business consulting and training, for more information, visit www.taticca.com.br or e-mail taticca@taticca.com.br and learn more. Our company has certified methodologies for carrying out activities.