Why Audit Planning Will One Day Save You
Audit Planning may seem like a lot of work, but it’s importance is far beyond what is seen in the eye. Internal auditing in a company is not just considered as mandatory (when companies are audited by government officials to ensure that there are no hidden agendas being made internally) but it can also save you one day.
One good example is the fact that it is most likely that a company can hire the best people to work in an organization, wherein these people only have minimal supervision whilst working. Internal audit involves that the workers are working smoothly without any hindrance and distractions, and are able to deliver the best results using the instruments that are being endorsed to them. This also applies with people who are measuring the efficiency of work compared to the number of hours that is being given to you, or by how much you are getting paid for despite the different external factors that may affect your performance or compensation.
From occupational, to health, to financial risk management, these are the things that can prevent you from experiencing the worst case scenario of having low delivery rates that may lead to bankruptcy or other negative situations if not taken care of. Doing your best to get the right people such as risk management professionals to work for your company for a certain period can save you with literally thousands, even millions of dollars depending on the level of your organization and how much profit is being earned over a period of time.
However, audit planning will not entirely save you if the person you might be getting to work for you as a risk management professional does not really know how to make an audit plan in the first place. When these people does not have enough training, their professional capacity to analyse and be sceptical is not going to help you in the best way possible. If you have internal staff with these personalities, you might as well let them know that they can get an internal auditing course that can help them broaden their skills and knowledge in assessing and report writing. They can probably get a good online course or enroll in a reputable risk management school to get them motivated even further.
As far as results go, measuring the success of a risk management plan and audit plan will always depend on how it is being carefully thought about and the use of the right processes to ensure a good flow of reporting. This is how crucial risk management is, as there should be no room for mistakes.