Internal Audit Made Simple: For Startup Founders and SME Leaders, Strategies, Innovation-Driven Businesses and Tips.
What you will learn
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The fundamental concepts of internal audit and how it differs from external audit
Why internal audit is crucial for startups and SMEs, especially for managing risk and improving operations
Key roles, responsibilities, and reporting structures within an internal audit function
How to use the Three Lines of Defense model and develop an effective internal audit charter
The process of risk-based audit planning and how to create an annual audit plan aligned with business goals
Different types of auditsβfinancial, operational, and complianceβand how to determine audit scope and objectives
Step-by-step guidance on conducting internal audits, including planning, fieldwork, reporting, and follow-up
Techniques for information gathering, evaluating internal controls, and spotting common risks and fraud red flags in small businesses
Best practices for documenting audit findings and writing impactful, professional audit reports
How to communicate findings with management and support action planning and issue tracking
Strategies for establishing an internal audit function, whether in-house or outsourced
How to promote a risk-aware culture within a startup or SME
Ways to measure internal audit performance using relevant KPIs and success metrics
Insights into the future of internal audit and how innovation and growth affect audit practices in smaller organizations
English
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