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| Risk based auditing | |||||
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A critical part of any
business is the assurance that policies and regulations are adhered
to. In today's increasingly regulated business environment, more and
more emphasis is placed on the effectiveness of internal controls.
Consequently many business areas find themselves subjected to a
constant stream of audits - often from uncoordinated assurance
functions. |
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“Internal
auditing is an independent, objective assurance and consulting activity
designed to add value and improve an organisation's operations. It helps
an organisation accomplish its objectives by bringing a systematic,
disciplined approach to evaluate and improve the effectiveness of risk
management, control and governance processes." |
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