Audits
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Internal audit
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Compliance audit
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Operational audit
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Performance audit
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Functional audit
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Quality management audit
For more systematic and effective management of organizational processes, risk mitigation and added value increase. We offer - Internal audits, compliance audits, functional audits, quality management audits and consultations.
Auditing helps an organization achieve its objectives by implementing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control and corporate governance processes.
Our offer includes conducting audits in various areas and processes, as well as performing various internal audit functions in the company in a certain period, creating an internal audit structure in the company and preparing plans. We offer to conduct audits also before conducting external control inspections, in order to gain confidence in the transparency of the process and the adequacy of the documentation.
Internal audit
The internal audit is conducted in accordance with the international standards of the professional practice of Internal Audit and the Law on Internal Audit and other binding regulations that determine compliance with best practices.
When performing an internal audit, the inspections include checks of compliance with regulatory acts, as well as possible risks of fraud, as well as process efficiency and checks of the internal control system of processes. An internal audit can cover a number of assessments and inspections in a broader perspective of evaluating a process or a defined area.
Compliance audit
A compliance audit is an examination of legislative norms and instructional material, as well as orders and regulations of the economic activity of the administration. A compliance audit can also be carried out at the request of the company’s owners or shareholders to check how the administration complies with the management norms in accordance with the company’s articles of association.
Operational audit
Operational audit is an examination of individual parts of the economic mechanism of the organization of the company structure in order to assess their efficiency, safety and usefulness. An operational audit should also include an assessment of the size of the management organizational structure, accounting methodologies and techniques, computer systems, marketing methods, as well as an examination of any other industry.
Performance audit
Performance audit is an independent examination of operational efficiency and productivity, observing fund saving principles, of public institutions, programs or organizations, that lead to operational improvements. Most often efficiency audits are carried out in state institutions.
When conducting efficiency audits, the good practice Internal Control Standards guidelines for the needs of the state administration are followed – INTOSAI guidelines.
Functional audit
Functional audit is an evaluation of the efficiency and effectiveness (including economic effectiveness) of the company’s operation and operational organization. During the functional audit, it is evaluated whether the resources (time, people, money) necessary for the company’s operation are effectively used, distributed and correspond to the achieved performance results.
The evaluation can be carried out throughout the company by activity areas (functions), in a separate area (function) or structural unit. Usually, the management control structure of the company is also evaluated (including the internal control system).
Quality management audit
An audit is a systematic, independent and documented action to obtain the necessary assurances, evaluate them in a targeted manner and determine how complete the compliance with the audit criteria is.
The purpose of a quality management (QM) audit is to make sure that:
- adopted documented procedures are approved and applied;
- regulatory and legislative requirements are strictly followed;
- deficiencies in production/service or management system are identified;
- technical regulations are met;
- the product/service meets the requirements.
Benefits of audits:
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Creating confidence in the company's management about the internal process control system and risk mitigation options.
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A tool for ensuring the Risk management process.
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Business process improvements, incl. saving funds and reducing costs.
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Detection of possible cases of fraud.
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An independent evaluation and recommendation of an internal control system or an area of a business or business process.
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Looking at the company's internal environment from a "different point of view" and providing added value to the company's management in achieving strategic goals.
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Certified, professional auditors, engaged experts who have no less than 3 years of experience in conducting audits.
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