The internal auditor can improve an organization reducing cost, enhancing revenue & improving profits
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The internal auditor can improve an organization reducing cost, enhancing revenue & improving profits

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The internal auditor can improve an organization reducing cost, enhancing revenue & improving profits The internal auditor can improve an organization reducing cost, enhancing revenue & improving profits Document Transcript

  • The internal auditor can improve an organization reducing cost, enhancing revenue & improving profits Summary: the article is primarily approach about the internal auditor role affects responsibilities, performance and function to improve the organization profitability, my article simply provides a brief “how internal auditor can improve an organization profits reducing cost and enhancing revenue “by suggest in the appropriate ways, The internal auditor specifically designed to reduce the risk of fraud also the internal auditing department is concentrating on reducing cost, enhancing revenue and improve the organization profits, An internal audit examines a variety aspects of the way in which an organization operates. Internal audit function is typically seen by financial executives as a best practice, internal auditing provides an independent and objective opinion to an organization management as to whether its risk are being manage to acceptable levels, So the internal audit is a real and effective measurement of all processes of quality management system. Is an accurate picture of company's strengths, weakness and results, Audit decisions are based on audits finding, on operations results and on audit evidences Organizations are looking to internal auditing departments to add value, improve cost controls, and solve problems. Internal Audit discusses how Internal Audit's role can be enhanced to reduce costs Such as financial systems may be considered by the external auditor as a short cut to verifying all the figures in the accounts to complete the audit process but the internal auditors will also cover these system as part of the audit plan, Overall risk management arrangements are the main preoccupation of the internal auditor, who is concerned with those entire controls fundamental to the achievement of organization at object, In the past internal audit had a reputation for evaluate controls, specifically designed to reduce the risk of fraud, recently the auditor evaluates the same controls during the audit of internal control over financial reporting as control in a financial statement audit, So what exactly is the increase that internal auditor can provide in an organizations? , absolutely an organization reducing cost, enhancing revenue & improving profits. The internal audit function is an activity –is important that means it is a define services Although not of necessity located with the organization, The services role should read to a define benefit to the organization and improve the operation also identifies one or more weakness when expressing an adverse opinion to a weakness, the management try to control the miss cost, that will be improve the organization revenue which improve operating efficiency and reduce the workload. 6
  • The object of an internal audit of financial statement is enable to express an opinion as to the fairness of presentation in all material respects of an organization entity financial position ,So that result of operations and cash flow ,revenue, profits will increase Internal audits help companies to meet customers’ expectations with greater consistency. It is profit that drive's return on investment. Managers should be profit professionals and experts; internal audit empowers employee confidence by reducing their supervision and by enabling a quality behavior in performing their work. The internal auditors provide reliable picture of company's processes and results to top management. The internal audit reinforces the discipline, liberates employees working in the audited areas and enables their involvement in the continual improvement process. In most business conversations only moments pass before some reference is made to improving profits. Profit improvement is the main goal of business internal auditors capable to provide actual information, suggest & effective plan supportively for organization profit improvement Conclusion : the complete identification of risk is the most important part of risk – based internal auditing as well as being vital to the proper operation of any organizations, Above I have discussed about the internal auditor performance for organization improvement through cost savings , revenue ,enhancement and cash flow realize risk management and efficiency benefits in the process that ideally cover all the organizations activities, 7