Internal Audit Today

Nitpicking?

Of course, an internal audit must deal with details, and even check every single cent in the accounts. This auditing task is very different from the functions of a strategic planning or controlling. But, this has nothing to do with "nitpicking".

It is more important to know, whether the internal control of the company is functioning and whether legal or internal standards are abided by. A modern internal audit function is concerned not only with the past, but increasingly with the future--by proposing specific improvements and watching their implementation. In addition, a consultative participation of the internal audit is highly recommended, especially during the design and development of new procedures and processes.

Through the extensive internal knowledge and experience from various other audits, an internal audit is well-prepared and qualified for consultation of tasks to the management.

However, the development of an internal audit does not stop functioning after achieving the primary goals. In the future, an audit office will be more concerned with the opportunities, in addition to the risks, and will take the theme "uncertain management" especially into focus. For the quick adaptation of companies to the constantly changing conditions and the growing insecurity in today's business world, a good audit can provide important contributions.