• Internal audits are a key management control activity that ensures the internal business processes are consistent.
  • It also enables the organisation to identify gaps in business processes as well as opportunities for improvement.
  • The main objective of an internal audit is to verify and ensure that organisation’s policies and procedure, it provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively.
  • This Audit will required when Increase in  size of the organisation’s, complexity of businesses & to Enhanced compliance requirements.
  • Internal auditors assist management with this task by providing a focus on risk management and the implementation of more stringent internal controls to manage prospective risks and vulnerabilities.