To make sure that internal control procedures, corporate governance, and accounting procedures are working properly, an organization must undertake internal financial audits.
- Internal financial audit results include:
- Value addition through the discovery and improvement of internal process defects.
- Improve the efficiency of books keeping & final accounting so external auditing runs smoothly.
- Assist in lowering the risk of breaking applicable rules and regulations of government and tax authorities.
- Continuous internal audit has demonstrated advantages over the long and short terms, and it is crucial to achieving an organization's goals.