Internal Auditing is a management tool. No matter what the size of your business is, the utility of internal auditing as a means of managerial control is the same. It is nither a mere routine activity for the establishment of arithmetical accuracy of accounting, records and the detection of errors and frauds, nor is its scope limited to carrying out functions like vouching, checking of financial and cost records, and other verifications, but growing demand and greater initiative of the internal auditor for constructive contribution improving the operational efficiency of the business.
Independent reviews and appraisals of all business operations over time have evolved Internal Auditing to being a service to the management of the organisation. To what extent are the goals and policies of the organisation reasonable and attainable? Are they efficiently designed and implemented considering the needs of all stakeholders? Does your organization have suitable systems of financial and operational controls in place? Are they well established and consistent with the organizational structure of your unit? How good is the co-ordination amongst the various levels of management? Is there evidence of satisfactory degree of motivation at all levels in the organization? Is the information communicated from lower supervisory levels relevant, complete, classified and summarized so as to provide an adequate basis for decision making? Answers to these questions are vital for you in management. It is impossible for you to get them directly. But you can safely depend on us as Internal Auditors to provide you with the adequate information after a review and appraisal of various activities of your business. It is not what you ask. It is who you ask that matters.