auditing importance

1. The Portable Audit Skill Set: Jack of All Trades, Master of One auditing consultancy dubai All of us will have to audit a topic or activity unfamiliar to us at some point in our careers. I've had the chance to audit firms in government contracting, financial services, technology, pharmaceuticals, and municipal and state government agencies during my career. One interviewer questioned me how I was going to audit a firm I had no prior expertise in when I was applying for the position of Head of Internal Audit at a company whose core business I had never heard of. My response was straightforward: I conduct every audit following The IIA's Standards for the Professional Practice of Internal Auditing, and I have achieved success in a variety of fields because I am an expert in one field: auditing. 1. Be an expert in methodology Learning about the IIA's Standards, in particular, the Project Management Standards, which are a tried and true project management technique and also serve as a road map for the tactical execution of all areas of conducting audits, is the first step to becoming a master in the audit profession. Once you understand how to use this process, you can confidently take on any auditing role. . Recognize the Business I've always considered that having a good balance of technical skills, people skills, and institutional knowledge is essential for success as an auditor. While you may have the technical expertise and interpersonal qualities to bring to your new position, you lack institutional knowledge when you are a new

2. employee.auditing consultancy dubai To be able to recognize and start carrying out audits that will add value to the organization, you must swiftly get over that learning curve. Your top priority during the first 30–60–90 days should be to learn as much as you can about the organization, its mission, the key players in management, the lines of defense model, internal politics, and the risks that could prevent it from achieving its goals. This depends on the size and complexity of the organization. Having this knowledge will enable you to carry out an accurate risk assessment, which forms the basis of every audit strategy. Explain Your Value I think now is a wonderful time to explain your value as you're getting to know the company and developing contacts. Internal audit is and should be seen as a customer service function, not a policing function, is my standard opening statement. I set the expectation that my goal is to help process owners address their known pain points, streamline their processes, and find opportunities to improve the profitability, and efficiency rather than to find problems that might make them look bad to management or other members of the organization. Stakeholders are more receptive when they perceive you as a member of their team who does your audits with the goal of simplifying their lives. This kind of interaction improves everyone's quality of life as they come to see you as a reliable advisor. company's compliance, .