Best wishes for a healthy and prosperous New Year. Good things and surprises await you in the New Year 2023. We're excited to kick off this year with a blog about how internal audits add value in supporting company growth.
Based on their current business growth, we may classify companies loosely as below:
Companies with more than double-digit growth rate
Companies with no change or single digit growth rate
Companies that are incurring losses.
All the companies shall fall under one of the above classifications “a”, “b” or “c”. As an owner/manager of a company, if yours is a classified “b” or classified “c” company, you are positively considering becoming a classified “a” company, if you are already a class “a”, you would like to sustain your high growth rates.
Internal Audits are required for all types of businesses, as Internal audit consultants Coreinfo Consultancy shall build relationships with the client business to keep a finger on the pulse of the organization and thereby act as growth partners.
Now the simple question is how you would grow or sustain growth and how Coreinfo Consultancy as an internal audit consultant can help in your success and growth story. Provided below are some key insights into how and where internal audit can help your business:
Strategic and valued advisor: The Internal Audit function serves as a subject-matter resource to business management around strategic initiatives, challenges, and changes in the organization. The function has the people, knowledge, and experiences to effectively provide this level of service.
Business insight: Besides covering the ‘basics,’ the Internal Audit function is designed to provide high-quality, relevant business insight as an integral part of its activities. Business insight is not a by-product, but an explicit outcome of the function’s activities.
Control and compliance monitoring structure: Internal Audit functions are focused on evaluating the design and the effectiveness of internal controls in the areas outlined, in their charter or mandate. This also includes focusing on compliance with key regulations and policies.
Size of the Company: At Coreinfo Consultancy we work with virtually any size of company to assist you with your internal audit activities. We believe the Internal Audits are now required to find different ways to increase shareholder value and increase the attractiveness of the company to other stakeholders like bankers and other potential investors.
Unbiased Advice: As internal audit consultants we can help companies’ management with everything from developing policies and procedures to selecting the right tool for their operational needs. Our clients tell us they love working with us because we give them unbiased advice from people who understand their business model.
Many a time as internal audit consultants we get questions from management like….
Our company is small, do we need an internal audit?
Our company is doing well in terms of profitability, do we need an internal audit?
Our company has trusted and experienced professionals working for us, do we need an internal audit?
For all the above questions, the answer is “yes”, to know how? reach us. This new year 2023 one of the best decisions managements can take is, to take internal audit services and see how their business evolves
If you're interested in learning more about how we can help your company become more successful through internal audits, please feel free to reach out to info@coreinfo.co.in or +91-9962885061 (WhatsApp/Direct)
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