Why internal audit

Question

Why internal audit

Accepted Answer

Internal audit provides valuable insights into an organization's operations, risk management, and control processes.

Internal audit helps identify and mitigate risks within an organization.
It provides assurance to management and stakeholders that internal controls are effective.
Internal auditors play a crucial role in ensuring compliance with laws, regulations, and company policies.
They help improve operational efficiency and effectiveness by identifying areas for improvement.
Internal audit helps in detecting and preventing fraud and financial misstatements.
It provides recommendations for process enhancements and cost savings.
Internal auditors contribute to the overall governance and risk management framework of an organization.

Accepted Answer

An internal audit is conducted objectively and designed to improve and mature an organization's business practices

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