Internal Audit
/ˌɪntərnəl ˈɔːdɪt/
Definitions
- (n.) An independent, objective assurance and consulting activity designed to add value and improve an organization's operations, ensuring compliance with laws, regulations, and internal policies.
The company conducted an internal audit to assess its financial controls and compliance with regulations.
Forms
- internal audits
Related terms
See also
Commentary
Internal audits are typically conducted by employees or contracted specialists within an organization and focus on risk management and internal control effectiveness.
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