Internal audit services are provided by an independent, objective assurance and consulting company that is established with the primary aim of improving the operations of the organization. Internal audit services enable the organization to accomplish the target goals by bringing in a systematic approach to review and improve the risk assessment, operations control, and overall governance. However, many organizations do not have an established department of internal audit services because it is deemed costly.
Many organizations use the service offered by external parties to assess their quality management systems. The following are the advantages associated with internal audit services when outsourcing internal audits to external parties.
Advantages of Internal Audit Services
Internal audit services make it easier for the organization to measure the current management practices and business processes against the expected performance. Maybe you as the CEO and your team of professionals meet regularly to discuss management practices and business process for quality management that you require the rest of the staff to follow. The implementation of any business process or quality improvement should be driven by top management, however often these shortcomings are identified through the internal audit process. When using an external party, it is easier for them to perform an independent audit to identify points of correction and propose relevant recommendations.
Internal audits are performed regularly on business process and operations to scan vulnerabilities and effectiveness of the available systems. In case any inconsistency is identified in the quality management system, this will be picked up during the internal audits and solved accordingly prior to a problem is exposed to the public. One of the biggest advantages of using an external consultant company is to be able to draw on their excessive experience with auditing across various industries.
Fosters Improved Communication
The use of internal audit services can improve communication within the organisation as they review the interaction between different departments as well. Some of the benefits by outsourcing the internal audit function is the experience consultants often have from working with various industries.
Improves Safety Performance
Although the ISO 9001 does not address the issue of health and safety, internal audit from a third party are often effective in improving the aspect of safety. When using a third party for internal audits they often have the capability to develop employee training program as well and is able to train employees to acquire skills that will help them avoid some of the faults identified by the audit process.
Prepares the Business for External Audits
Another benefit associated with use of third parties is that they prepare the organization for the external review in case the need arises. Conducting internal audits allow the management to gain knowledge on what area requires immediate improvement. Internal audit is a great opportunity that helps the organization to learn and expand.
Auditing the quality management system of an organization is essential in determining the performance and direction the company is taking. The internal audit services are provided by personnel within the organization (or external if outsourced) who understand the scope of the business and the standards and regulations they have to comply with.
If you are interested in outsourcing your internal audit function, feel free to contact us for a free consultation on how we can help.