Tips To Support Internal Audits -AM Audit | Audit Accounting Firm in Dubai
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2022/06/30

Tips To Support Internal Audits

As a business, quality is one of the things that should dominate your operations. To maintain
said quality in business operations, you need a foremost optimal Quality Management Tool –
internal audits. This begs the question, what are internal audits and how do you support the
internal audits? In this post, you will find the answer to these questions and other information
related to internal audits. Read on.

What are Internal Audits?

Visualize internal audits as a quality management tool that helps improve and assess critical
business processes. This form of auditing enables you to determine the operational aspects of
your business and identify areas that need adjustments. Essentially, an internal audit is a vital
aspect of a productive quality management system.
So, what is the fuss about internal audits anyway? Let’s find out the benefits of internal audits,
shall we?

Benefits of Internal Audits:

Essentially, consider internal audits a wake-up call of sorts for businesses as it allows
companies to focus on key areas that could adversely affect their quality. Nonetheless, you can
get some other benefits with internal audits, and we’ll be providing them below.

● Internal audits allow you to identify specific business challenges, especially those that
could lead to compliance issues. So, with the information you get, you can continually fix
the gaps in your operations and prepare your business for external auditing or regulatory
inspections.
● It allows you to improve the quality of your business and helps you sport the major
causes of problems in your strategy and business operations. When you discover these
problems, you can begin to solve problems immediately. If you can’t readily solve these
problems, your institution could develop to eliminate these problems.
● Internal audits allow nipping crises before they even begin to threaten your quality. You
also create further preventive measures that wouldn’t allow such issues to rise again.
● Internal audits allow you to know how organized your business is. Also, it gives your staff
and other external bodies the confidence that you seriously prioritize the quality of
products, the safety and health of staff.

Tips to Support Internal Audit:

These tips will help achieve a better internal audit.

  • Selecting scientifically qualified and experienced trainers within the Internal Audit Department.
  • Providing the necessary material and technical facilities.
  • Provide a clear and written review plan, keeping in mind that it is constantly updated.
  • Direct communication with the Board of Directors and its competent committees. And limiting the role of the audit to advice and counseling.
  • Establishing a clear remuneration and rewards structure for the internal audit department and defining the tasks and duties of the internal auditors.
  • Contracting with specialized external audit offices to conduct a periodic evaluation in order to confirm the quality of the professional performance of the internal auditors.

Why do you need Abdullah Al Mulla’s auditing and accounting services?

All businesses need the best software, platforms and infrastructure to run their businesses successfully. Therefore, at Abdullah Al Mulla, we adopt a high-value, risk-based internal audit approach to help companies improve their operational efficiency. Moving beyond conventions to add tangible value, we are taking the nature of internal audit to a more productive, proactive and strategic position in a technology-driven corporate governance environment, which delivers tremendous value. Do your best and contact us now!

 

 

Expert Team

  • Ali Chamas

  • Audit Manager
  • Adel Farag

  • Taxation Manager
  • Farah

  • Accounting and tax Associate
  • Sohaib Basharat

  • Financial Auditor & Tax Manager

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