Internal audit service

Internal Audit Service

Currently, "Internal audit” is a mandatory part in many business organizations. There are many different sources when you search on the internet, but not all information is accurate. So, do you really understand the knowledge about internal audit? This article will be somewhat useful to you!

What is internal audit?

DinhWhat exactly does internal audit mean?

Internal audit is an independent, objective assurance and consulting activity designed to add value and address an organization's operations. Internal audit service AACS helps organizations achieve their goals through the application of systematic and disciplined methods to evaluate and improve the effectiveness of risk management, control and accounting system management processes. your business's accounting.

Main activities of internal audit

• Assurance: Objective testing of evidence to assess compliance, effectiveness and control performance to limit risks.
• Consulting: Including construction consulting internal audit process; control consulting for new projects; Consulting on identifying, evaluating and managing risks...
• Independence: Professional reporting to the company's leadership, administrative reporting to the General Director, performing audits and exchanging audit results,...
• Objectivity: Internal auditors must have a fair, unbiased attitude and avoid conflicts of interest...
• System: Objective risk-based audit method.
• Rule: Standards of internal audit activities in enterprises must comply with international internal audit standards prescribed by the Institute of Internal Auditors as well as the provisions of the Law.
• Helps organize risk management, ensure control effectiveness and evaluate and make recommendations to improve the efficiency of your company's accounting system management.

Operating principles of internal audit

Internal audit service of AACS operates independently and complies with the law. Includes 3 main principles: independence, objectivity and professionalism.

Independence

Internal audit activities are not subject to interference when determining the scope of the audit, performing the audit and communicating audit results. Independence needs to be managed at levels such as: internal auditor, audit project, function and organizational structure.

Objective

Internal auditors must have a fair, unbiased attitude and avoid conflicts of interest. As well as independence, objectivity needs to be managed at levels such as: audit project, function and organizational structure.

Professionalism

• Personnel: Ensure each auditor has appropriate knowledge, skills and competencies. Must be regularly trained to improve qualifications.
• Reasonable Proficiency and Care: Audits must be performed with reasonable skill and care. Supervision work must be carried out fully and effectively.
• Human relations and communication: Build an effective communication and teamwork system.

What is the role of internal audit?

In the operating system of a business, the role of Internal audit in businesses What is that? Why is internal audit needed? Besides many reasons understood in many different aspects, for the board of directors, the board of directors as well as the legislators and shareholders of the company, having a well-functioning internal audit system will help them:

Implement the proposed strategies thanks to the support of internal audit with accurate reports, risks are contained and above all, understand and do not violate the law. Besides, shareholder value will also be guaranteed.

The company's management and operation processes are always guaranteed thanks to strictness, consistency and general compliance from all levels, departments and branches.

Regarding foreign affairs: internal audit system Being well operated will also help businesses receive high evaluation and trust from domestic and foreign partners and customers. Besides, ensuring transparency and not having to worry about unexpected or periodic inspections from agencies related to management and business laws.

Professional ethics of an internal auditor

Every profession has its own ethical standards to evaluate. Particularly for internal audit services reputation founded by AACS, professional ethics is considered our operating motto:

• Honest, careful and responsible.
• Comply with Vietnamese law.
• Respect and contribute to the ethical and legal values of the business
• Continuously improve staff qualifications, efficiency and quality of audit services... Do not participate in activities that may lead to conflicts of interest.
• Exercise caution in using and protecting information collected while performing duties.
• We commit not to use information for personal purposes.

Do you have a clear understanding of internal audit?

How to become a professional internal auditor?

It can be said, to rent one company internal audit services professionally, you need to find out information from many units. But it is very difficult to distinguish which services bring absolute benefits to your business. To help your business avoid "fake" accounting companies. We - AACS Auditing Company Limited are always ready to provide extremely useful accounting and auditing services for your business.

Proud to be one of the suppliers accounting services complete internal package leading in Vietnam, choose AACS and come to us. You definitely won't be disappointed. Contact us immediately for more dedicated advice and guidance.