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When internal auditor has:
1. Real independence and not fiction, reporting to owner, Board, audit committee without exception.
2. Sufficient resource for audit i.e3 auditors for factory it is inefficient, since here the even full and well educated auditors could not be able to cover and test all risk area.
3. All departments MDs to include part of their KPI monthly performance reporting measures and its variations to be reported to the internal audit department without request.
Effective audits of organisation's don't just happen overnight, for that matter the requirements are:-
- Strong & effective Board/Management - Who understand the views justified by an auditor & implement them in the respective departments to give best results. Provide clarity on the scope of audits to be covered and for the same matter allocate full independence to the auditor.
- Competent & skilled audit staff - who constantly keep themselves upgraded on the current changes on the operation flows & Information Technology. On a regular basis does risk evaluation of operation activities and any deviation to be reported without much delay to the higher authority. Surprise checks
- Last but not the least an internal auditor shall not keep his image focused on audit to trace issues but rather be profound to provide his much skills to overcome an issue as well as guide the Board/superiors & several departments of the organisation to overcome the concerns/issue.
