INTERNAL AUDIT METHODS AND PRACTICES

Internal audit is an independent evaluation of the effectiveness of an organization’s activities to check and identify its performance. The internal audit is managed by the company itself or a specific department within the company, usually the internal control department. The aim of internal audit is to assist the company’s employees in performing their duties at a high level of excellence. Internal audit provides the organization with clear analysis, assessment, recommendations, advice, and information regarding the audited objects.