Thursday, August 20, 2015

Best Practices in Auditing

by Anil Gupta

Organizations conduct audits to examine a business process and evaluate the process’s compliance with internal and external requirements. They also use audits to implement continuous improvements. Internal and supplier audits allow management to:
Learn about potential problems before they become burning issues.
Identify failure points within a process so relevant stakeholders can implement corrective actions in a timely manner.
Determine the effectiveness of controls within a process.

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