Internal Audit

Internal Audit – An internal audit is an independent and objective evaluation conducted within an organization to assess the effectiveness of its internal controls, risk management, and governance processes. The primary purpose of an internal audit is to ensure compliance with laws and policies, detect irregularities or inefficiencies, and enhance overall operational performance. Internal auditors provide valuable insights to management by identifying weaknesses, recommending improvements, and ensuring that resources are used efficiently and ethically.

Example :A company’s internal audit team reviews financial transactions and inventory management systems to ensure accuracy, prevent fraud, and improve operational transparency