What is the difference between internal audit and external audit?

 

An internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations via utilizing a systematic, disciplined approach to evaluate the effectiveness of risk management, control and governance processes.

 

Both internal audit and external audit are cornerstones to an effective control structure for a company. But an internal audit does not only focus on financial aspect of the company.

 

Internal audit can be done on various processes of the company which does not fall under the scope for an external audit and will always complements an external audit to be the two legs for a well run business. 

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Do companies need internal audits?

 

No matter the size of the company,  management will have queries regarding whether certain operational procedures are being followed upon but may have limited resources to divert attention to address these queries. Internal audits can be used to solve this.  

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Why choose us?

 

We provide a customized approach to solve management queries.

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An audit objective is first determined after discussion with management. A detailed audit plan will be subsequently drafted and communicated with management. A report detailing the result of the audit will be presented, together with observations as well as improvements points. 

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