Need for Internal Auditing

• Improves operational effectiveness

Periodically, an internal audit analyses the policies and practices of your company. These procedures aid in reducing your company’s risk. You can find suggestions to increase the efficiency of business operations thanks to ongoing monitoring and review.

• Assesses risks and safeguards assets

Through a methodical risk assessment, an internal audit program helps management and stakeholders identify hazards. Any weaknesses in the company environment can be identified and remedied with the use of a risk assessment.

• Successful Control

Internal audit reduces business risks, which increases organizational efficiency. The management can find the best solutions to the main company risks with the help of regular auditing.

• Makes sure that corporate laws and regulations are followed

Internal audit aids in getting your business ready for an external audit. Internal audits conducted regularly will make it simpler to draught legal documents.

Internal Auditing Benefits

• Internal auditing aids in performance analysis by assisting a company in evaluating its effectiveness and efficiency.
• By proactively identifying any irregularities or inconsistencies in a company’s operations or reporting, it can serve as a proactive tool for risk management.
• An organization can examine its most important business processes with the aid of internal auditing, giving it the chance to grow and get better over time.

Process of internal auditing

Although the audit requirements vary depending on the business, the audit process, which consists of nine steps, is generally the same. The following procedures are carried out by audit companies to reduce business risks and boost productivity inside an organization:

Internal Auditing Services at GSPU

The following internal auditing services are offered by our auditing company:

• Assessing company risks and making appropriate recommendations.
• Compliance auditing, which provides management with information on the level of adherence to established policies, procedures, laws, rules, contractual requirements, etc.
• Analyzing business operations to evaluate how well the organization performs concerning its business goals.
• Giving guidance and aiding the company in the creation of internal audit and risk methods.
• Helping the management identify and assess any financial irregularities, as well as gathering any documentation needed for legal proceedings.
• Evaluating a company’s internal control systems, assuring the conformity to local laws and regulations, and verifying compliance with operational guidelines.
• Finding potential sources of side income and any holes in the current revenue streams
• Delivering helpful suggestions for enhancing control systems

Why WE?

We provide both interim and full-time internal auditing at GSPU. To assist clients in enhancing performance and operational effectiveness, our internal audit professionals use a risk-based approach to internal audit. To raise internal audit to a position even more strategic and beneficial in the current corporate governance climate, we go beyond standard fundamentals and bring concrete value.

Regarding the calibre and efficacy of the control environment within the organization, we offer an unbiased expert assessment and recommendations. We also pinpoint opportunities for development and put plans into place to assist you in achieving your organizational goals and positively impacting the efficient running of your company.