In today’s rapidly evolving risks landscape, internal audit is a critical component of any organization’s risk management framework, ensuring a systematic and objective evaluation of operations, processes, controls, and threats. Experts from AIGC share twelve guiding principles for conducting a successful internal audit process.
The internal audit cycle is important for a number of reasons. It helps organizations identify and manage risks effectively, and down the line, it provides an independent and objective assessment of operations, a step which provides management and other key stakeholders assurance that the organization’s operations are effective, efficient, and comply with applicable laws, regulations, and policies.
Running a company-wide internal audit process is however easier said than done, with internal audit teams facing numerous challenges along their way including poor data quality, insufficient resources, business resistance, lack of capabilities, and more.
Expert tips to enhance internal audit success
To maximize the efficiency and effectiveness internal audit success, internal auditors need to address common challenges across the lifecycle and adopt best practices….
