Underlying Objectives
Compliance Assurance
- Regulatory Compliance assessment
- Regular updation of compliances
Performance Efficiency
- Key Performance Indicators and Key Results Areas
- Roles and Responsibilities
Cost Efficiency
Revenue Assurance
- Revenue leakage area identification
- Over booked and under booked revenue areas
Risks & Control Effectiveness
- Risk Assessment
- Control Assessment
High Level Benefits
- High Level of Governance
- Efficient Operations
- Enhancement in organization's capabilities, reputation & value
These aspects are the underlying objectives of Internal Audit Function. The Role of the Function of Internal Audit has evolved from traditional transaction auditing to review and advising on governance processes, cost-performance- operational efficiencies, Business Strategies.