Internal audit

Monitoring of internal work processes with regard to their correctness, regularity, expediency and efficiency.

Functioning processes within the company are the basic prerequisite for business success. They are necessary to meet today’s economic demands, which arise due to increasing internationalization, increasing complexity or the growth of an organization. In addition, the use of an internal audit documents that the company management pays a high level of attention to the topic of compliance.

Tasks

Internal audit is responsible for auditing and monitoring internal work processes with regard to their correctness, regularity, expediency and cost-effectiveness. This is intended to increase efficiency and at the same time minimize/optimize risks within the company. In addition, the area of responsibility also includes presenting alternative courses of action to the management.

Is the internal audit carried out by your own staff or by external experts?

Internal auditing can be carried out by the company’s own staff or by external experts. If the internal audit is to be carried out by the company’s own employees, it is important to ensure that they do not take on any other tasks within the company. Otherwise, their independence would be called into question.

In many medium-sized companies, however, the scope of internal auditing is unlikely to be extensive enough for one employee to devote themselves entirely to this task. In this case, it is advisable to outsource internal auditing.

Internal audit - Internal audit - Interne Revision 1
Internal audit - Internal audit - Interne Revision 2

Audit of the internal audit

If an internal audit function has been implemented in the company, it can be audited by an auditor in accordance with IDW PS 983. This may involve auditing the appropriateness or effectiveness of the internal audit.

Our consulting services

As auditors, we can support you in the area of auditing as follows:

  • Audits in accordance with IDW PS 983
  • Support with the implementation of internal auditing
  • Implementation of the internal audit as an external auditor

Get in contact with us!

Tags

No matching tags found

Experts on this topic

Thilo Marenbach

Partner, Vorstand, Steuerberater, Wirtschaftsprüfer, Sustainability Auditor

You might also be interested in

Further services

Accounting 2.0ArbeitsrechtBank und KapitalmarktrechtChina DeskCompany assessmentCompliance/FibuCompliancemanagementCorporate SuccessionData protectionDatenschutzDatenschutz und IT-RechtDigitalisierungs­beratungDigitization consultingE-CommerceEinkommensteuerEnergiesteuer/StromsteuerEnergiesteuer/StromsteuerFördermittelmanagementFoundation consultationGemeinnützigkeit/ Öffentliche TrägerGewerblicher RechtsschutzGrundsteuerreformHandels- und GesellschaftsrechtHandels- und VertriebsrechtHeilberufeImmobilien­besteuerungImmobilienrechtIndirekte SteuernInsurance lawInternal auditInternational commercial lawInternational posting of employeesInternational tax lawInternationale MitarbeiterentsendungInternationale RechnungslegungInternationales SteuerrechtInternationales WirtschaftsrechtInterne RevisionJahres- und KonzernabschlussprüfungenKonzernrechnungslegunglabor lawLohnbuchhaltungmediaMedical professionsMedienNachhaltigkeitNon-profit status/public sponsorsNon-profit status/public sponsorsOracle NetSuite® OutsourcingOracle NetSuite® Outsourcing EnglishPackaging ActPayroll accountingProcedural documentationProjektmanagementProperty tax reformProzessführungReal estate lawReal estate taxationRechnungswesen 2.0Reorganization and restructuringRisiko- / Compliance-ManagementRisk management / compliance managementSanierung und RestrukturierungSozialversicherungsrechtliche AngelegenheitenStartUps / Venture CapitalStartUps / Venture CapitalSteuerliche OptimierungStiftungsberatungsubsidies managementSustainabilitySustainability AuditorTax optimizationTransfer PricingTransfer PricingUmsatzsteuerUnternehmens­bewertungUnternehmens­nachfolgeUnternehmensberatungVerfahrens­dokumentationVermögensnachfolgeVerpackungsgesetzVersicherungs­rechtWirtschaftsprüfungZoll