There is a possibility of that the management can control every kind of activities under their administration in small organizations. But when the organization structure becomes larger and complicated, the management will need to develop internal control systems, functional tests of established internal control systems and will need to employ personnel who will empower the internal control systems. The primary way to provide this situation is giving a place to internal audit in the organization.
Internal Audit has an assurance function. From the assurance function of the internal audit; it must be understood that a reasonable assurance is provided for the inside and outside of the organisation with respect to organisational risk management, efficiency of control and management process, accuracy and completeness of information produced, protection of assets, efficiency and productivity of operations and conformity of operations to legislations. (Including the policies set by management)
Internal audit types are classified as follows;
- System Audit
- Performance Audit
- Financial Audit
- Compliance Audit
- Information Technologies Audit
MGI provides services for development of internal control systems or review of existing internal control systems, audit of internal control systems and continuously audit of operability of internal control systems within the scope of prepared reports.
MGI Worldwide is a network of independent audit, tax, accounting and consulting firms. MGI Worldwide does not provide any services and its member firms are not an international partnership. Each member firm is a separate entity and neither MGI Worldwide nor any member firm accepts responsibility for the activities, work, opinions or services of any other member firm. For more information visit www.mgiworld.com/legal.