Internal Audit, as it is determined by the International Institute of Internal Auditors, is: “the activity aimed to provide independent and objective guarantees and consultations, needed to develop the entity’s functioning. Internal audit helps the entity to achieve its goals by means of systematized and coherent approach to estimation and elaboration of management in such fields as risk evaluation, control and corporate management.
What is the difference between internal and external audits?
Unlike external audit, internal audit is a perpetual process. It includes constant monitoring of all financial and business operations, executed by the auditor via control system, as well as regular sample checks of the primary documents according to frequency established.
Also, internal audit is aimed to analyse coordination agreements, KPI evaluation, inventory evaluation, cooperation with control entities and external auditors, and the preparations related to the external auditing.
Internal audit is intended to deal with broader question than those related to financial statements’ confidence, and serves as available and efficient resource to enhance the efficiency of a business.
Why is It Profitable to Outsource Internal Auditing?
Basing on more than 15 years of experience, we claim that outsource internal auditing is a measure that opens to a manager or an owner various advantages compared to employing a full-time specialist. Let’s mention some of them:
There’s no need to compose a job announcement, hold interviews and select a qualified specialist. We are going to provide you with an expert who is going to meet all your expectations.
There’s no need to pay more for long working hours, for if the process is well-organized, your internal auditor doesn’t have to be present in the office on daily basis. You don’t have to provide their workplace and stationery, social security and annual leaves. Neither you have to accomplish their professional and financial ambitions.
Our company is a reliable partner, all the guarantees are fixed by corresponding agreement. This means that all risks of unexpected leave (such as maternity leave, alternative job offer, etc.), or any risks of unscrupulous behaviour are entirely eliminated. Moreover, the auditor is supported by their team, so he or she can always count on a professional consultation of their colleagues – this option is free of charge.
You don’t have to care about software purchase and maintenance, as well as about constant education and attestation of your employees. There no bonuses, as the agreement presumes monthly payment only. Also, all of our prices are calculated with 18% VAT included.
We highly appreciate trustworthy and friendly relationships with our clients, that is why we are ready to search for a convenient solution in every kind of doubtful situation. Aside from various form of audit, we do provide consulting services, accounting services, legal support, and human resources solutions.
As a part of complex internal audit service, we are also ready to provide you with such services as HR audit, as well as professional attestation of the financial and economic sector employees, according to the coordinated educational programme (periodic evaluation and recommendations included). Moreover, authorial tutoring programmes are available within our internal training system (accountancy qualification enhancement).