The function of an internal auditor is to assist management. Internal auditors are charged with identifying and reporting compliance and operational issues that the organization has preliminarily identified.
For an investment in just a few hours of time, Bill Sittig, CPA can come in and conduct an internal audit of a specific program or department. Is the area or subject being audited performing in an Efficient, Effective and/or Economical manner?
Bill understands that not all organizations can achieve all three of the E’s at once, but he does believe the subject audit area should be able to accomplish at least two of the three E’s. Bill bases his work around this concept in that he makes recommendations that must also satisfy at least two of the E’s. That means you get practical advice that can be implemented within your budget and time constraints.
Additionally, internal auditors are consulted in forensic and fraud investigations where misappropriation and/or theft of company assets may have occurred. Remember, you can’t always wait for the external, independent auditors to catch the fraud or theft; they only come in once a year.
Although external auditors clearly state that while they are on the lookout for fraud, they are not responsible if it goes undetected during their audit. The best thing to do is have unannounced internal audits that rotate between departments or services that are specifically designed to go into the level of detail necessary to address management’s concerns.
Please see our Forensic & Fraud Investigations page for additional information regarding this important subject.
Let Bill Sittig CPA alleviate your concerns today by performing an internal audit for your business. You can count on his experience and professionalism. Bill is located in Tallahassee at 850-386-2639.