Risk Based Internal Audit - Underlying Objectives

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

  • Cost Optimization

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.

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