Internal Audits & Reviews
Internal audits are routine procedures whose time interval could be set up by the company itself. Internal audits are done either by the company resources or by a third party that is eligible enough to provide a competent internal auditor to the company. Internal audits are primarily conducted to monitor the efficient working of the organisation as per the laid out work protocol and to report back to the upper management of any clogs or blind spots in the internal cascade of the business. Rather than a flagging action, Internal auditing is mostly a periodic enhancement practice.
Review is an integral part of any auditing process that has different branches like financial, compliance, information system, and many others to ensure a proper code of conduct within the workers as well as within the set-up hierarchy of the organisation. Evaluation and input are the key features for an ethical review conduct.