An internal audit checklist can be referred to as a tool or a document that acts as a guide or a reference to the internal auditors while performing the audit by providing the standards that are to be evaluated in the process and monitoring the current performance of the company. It helps the auditors perform the audit effectively. It also assists in ensuring that the company complies with all the laws and regulations.
What are the contents included in the internal audit checklist?
The contents of the internal audit checklist may vary from firm to firm depending on the objectives of each audit. General contents that may be included are listed below:
• Understanding and identifying the context of the firm
In this process, the organization tries to evaluate the internal and external bottleneck areas to detect them and to take special care of such areas while conducting the Spancom Accounting and Bookkeeping services. It includes making a list of vital functions of the business that must be concentrated on critically.
• Validating the strategic plan
In this section, the risks and opportunities of the firm are identified. It examines the goals set by the organization and ensures that the operations conducted are on the same page as the goals of the firm. It also identifies the goals of the employees and compares them with those of the firm’s goals to know if they are in the same line. Through this process, the auditors validate the strategic plan.
