The modern business scenario is quite distinct from the traditional scenario. The business world has already moved towards globalization and the modern businesses also operate in information technology environments. There are lot many new features of the businesses operating in the modern world. It is not, therefore, easy for them to progress without operational efficiency and high level of performance. They are also required to ensure regulatory compliance and information security. The company’s performance and manage risk are evaluated by these factors. Modern businesses, therefore, need a tool that can help them to fulfill all requirements of a modern business scenario.
An internal audit is an effective tool for a business
An ตรวจ สอบ ภายใน is an effective tool that helps businesses of all types to improve and perform well to accomplish their goals. Internal auditors hold a great responsibility as a business advisor and consultants. They play their big role by
- analyzing, assessing, and monitoring, the risks, and controls of the organization;
- ensuring that the organization complies with established accounting practices and the laws; and
- reassuring and recommending to the company’s board on various issues for improvements.
Internal auditors gather complete information about the company’s operations for this purpose and find the drawbacks to suggest improvements in the weakened areas.
Internal audit is distinct from external audit
Internal audit is sometimes misconstrued as an external audit but both are distinct in their objectives. The internal auditors have a focus on educating the management and effect improvements but the external auditors have focus on reliability and credibility of financial reports. An internal auditor reports within the organization but an external auditor reports to the shareholders.
Internal audit is a real need of the business
Considering the above discussion, we conclude that both internal and external audits are important for a business but the former is more important from the perspective of improvements and business prosperity. The external audit may be a statutory requirement but an internal audit is a real need.