Internal auditing is the process of reflecting on business objectives and measuring the success of processes and procedures in reaching these goals. For more information on the importance of internal auditing, see our blog post here.
If you have certification, or are in the process of gaining certification, you may be asking “How do you get the most out of your internal audits, and how can you make them more simple and easy to conduct?”. With the help of Best Practice CEO, Kobi Simmat, we’ll give you tips and tricks to help you conduct internal audits efficiently, and what the internal audit functions are. We even have an invitation for a FREE webinar on Internal Auditing – keep reading for more information!
Best Practice Founder, Kobi Simmat’s Top Tips for Internal Audits:
- Plan- Build a roster as part of your audit plan and determine the business processes that require internal audits. i.e. purchasing, design & development, warehousing etc.
- Involve all internal stakeholders in the process to get their buy in and make the process easier.
Divide your internal audits into three sections:
- Desktop assessment – Look at the standards and your procedures and map whether they comply.
- Onsite assessment – Discuss your procedure documents with your team members. Observe how they use the procedures and whether they are being implemented as they were intended.
- Evaluation – Record your observations in a standardised document and discuss these at the Management Review as opportunities for improvement and determine internal controls that can be implemented.
Ensure your observations are recorded in your internal audit report with a positive spin! Internal auditing is all about the cycle of self-evaluation on the business and looking at how your business can improve.
For some quick tips and tricks on Internal Auditing you can implement right away, subscribe to our YouTube Channel, @BestPracticeTV. Below, Kobi talks you through the process of Internal Audits.