Internal control helps you evaluate potential risks related to the enterprise’s operations. One of the instruments of internal control is an internal audit. The presence of the department of internal audit in a company increases the investment attractiveness of a company and the trust of creditors, helps minimize risks related to the company’s work and increase the competitive ability.
The creation of your own audit service requires certain operating additional expenses and the selection of highly qualified employees. Therefore, today a practice of outsourcing the functions of the internal audit service is very common. This allows to control and manage the company in an efficient way, as well as to optimize business processes.
An audit of risks foresees an inspection of the most high-risk issues of your business, allows you to create an effective risk management model inside your enterprise and provide a trustworthy protection mechanism against internal and external risks.