Benefits of an Audit
by
Scott,Barry Vance
—
last modified
Jun 18, 2009 03:23 PM
- Provides an objective assessment of areas of interest or concern to management.
- Identifies business strengths and opportunities for improvement of efficiency and effectiveness in the department’s daily operations.
- Facilitates discussions with departmental employees to develop solutions to problems and promote operational efficiency, including the elimination of redundant or burdensome controls and the automation of procedures.
- Identifies deviations from management's standards and expectations.
- Identifies improvements to internal controls to prevent and detect problems and to protect personnel from undue suspicion.
- Effects positive change within the department and/or the University community that improves the overall results of operations.
- Evaluates the department’s compliance with laws, regulations, and University policies and procedures.
- Facilitates investigation of possible frauds or irregularities.
