Regardless of the size of your company and the
segment in which it operates, having better control over the actions and
information generated will be essential to build a strong competitive
differential, stand out in the market and grow in a sustainable way. But, after
all, what is the importance of internal audit at this stage?
Basically, it's all about the process. After all,
it is what will enable the discovery of operational failures and opportunities
for improvement for the business. You still don't do an internal audit in your
company? See from now on, in detail, why it is so important for your company:
Enhances the
company's risk management
Most United Arab Emirates companies are exposed to
risks such as fraud, registration errors, operational inefficiencies and
numerous irregularities. All of this can be committed precisely by those who
should fight them the most: managers, employees, suppliers, etc.
This makes accounting management a fundamental
strategy for the internal Auditors in Dubai, if it is not considered, these problems can
become increasingly difficult to detect accurately, causing damage to property
and causing serious penalties applied by Organs supervisory bodies.
On the other hand, an internal audit can help to
solve these problems, identifying unfilled gaps in the processes, which would
nullify the facilities for fraudulent actions within the company, considerably
reducing the error rate.
Promotes
best governance practices
Another point that raises the importance of
internal auditing in the company is the fact that it assesses whether the
adopted work standard is being complied with by managers and employees from all
departments.
In fact, it is common to see departmental managers
and their employees disrespecting and changing certain norms, guidelines and
other determinations imposed on the ideal behavior and methodologies they must
follow. This non-fulfillment of orders can jeopardize the performance of the
sector and affect the results of the entire company.
However, with a periodic internal audit, these
misconduct will be easily discovered, ensuring credibility and transparency in
the activities performed by the company.
Generates
improvements in internal processes
Through a
professional internal audit, it
is possible to identify compliances and, mainly, non-compliances, helping
managers to discover more easily what can be improved to add competitiveness to
the business.
This includes ways to reduce waste of resources,
increase productivity with quality and reduce production time, for example. In
this way, operations are optimized using methodologies and technologies that
are among the best practices of the moment.
That is, in addition to monitoring compliance with
the norms and standards by its managers and employees, the internal audit will
assess whether it is necessary to change any of these procedures to further
improve the level of efficiency of the activities.
The idea is that after the first internal audit in
the company, it will act more in the sense of prevention than correction of
procedural failures, representing an activity with a great focus on control and
bringing significant changes to the business over time.
It is worth mentioning that internal audit has a
very high strategic level and requires a very high degree of know-how
(specialization) from those who will put it into practice. Therefore, seek professional support . Thus, you will have
the vision of an outside expert, who will present appropriate solutions to
improve the management of your business.
Now that you know the importance of internal Auditors in
UAE, don't waste any more time. Put it into practice today and raise
the efficiency level of your business.