Different Types of Internal Audits that You Should Know About

All organisations have to undergo some sort of audit. This is an important requirement that covers all the financial and non-financial aspects of the company. The audit is an important process to exert constructive improvement.

Why are Audits Important?

You can find different types of financial audits. Internal audits hold an important position among these. This audit is an important requirement for all kinds of industries. It plays an important role in monitoring the advisory service and financial activities.

Kind of Internal Audits Performed by the Auditors:

By taking other resources, Internal audit becomes a decision-making tool for the management. Here, you can get more information about the types of internal audits. These are undertaken by the top auditors in Kolkata.

  • Operational Audits:

    In this audit, the auditor analyses the available resources in the institution. Then, they evaluate whether these resources are utilised in an effective way. This helps to determine if the business is being able to reach its goals. This audit may include the elements of compliance audit and financial audit.

  • Construction Audits:

    The construction audit works with a clear focus on the major capital projects in the system. It ensures whether these activities are functioning properly or not. An element of a construction audit includes the company’s validation of the compliance terms.

  • Integrated Audits:

    As the name suggests, the integrated audit combines financial and control audits of a particular organisation. It can be useful in assessing the efficiency of coordination between the information systems. It can track the subsequent business activities.

If you are looking for internal audit services from trustworthy auditors in Kolkata, you can contact SM Gupta & Co. Chartered Accountants. We are a well-known auditing firm in the city. Our team can perform all kinds of financial audits for your business. For more details, you can visit our website today.