How Process Auditing Can Make A Big Difference To Your Productivity

Process auditing is just one of the branches of a profession which is assuming increasing importance in today's financial climate. Most auditing is financial, and is carried out by external accounting firms for the purposes of demonstrating to the outside world that the company or public body is financially sound and is using its resources wisely. This type of auditing can also be carried out internally for the benefit of management, and this is often combined with process audits to create one comprehensive and definitive audit.

The essence of a process is that it is a series of actions which lead to a definite objective or outcome. Obviously, this model can encompass an enormous variety of business methods and business workings, so much so that the audits really need to be carried out by someone with a specialized knowledge of that particular process. It is unlikely that an accountant trained in financial auditing will be the right person for this job, although they could be if they have enough knowledge of the processes they would be auditing.

One area where process auditing has a harder time than financial auditing is in software development. The introduction of computer technology into auditing and accounting has been one of the great changes in recent years, the others being the increase in complexity of business structures and the tightening of the regulatory framework. Whereas building software for accounting is relatively easy because everything is standardized, process software is very different. Each individual process needs a different type of program, meaning that software will inevitably be more expensive. In many cases, dedicated software will need to be custom made.

help with audit

There are many large corporations where the results of one process depend on another, so it is important to make sure all related processes are assessed together. If a change is made in one process, it will affect to a degree all other processes which were dependent upon it. An overall analysis will be necessary to determine exactly where the problems or improvements occur. Sometimes, a thorough process audit analysis can lead to small improvements in individual processes, which lead to a very significant improvement when the effects are multiplied.

The vast majority of process auditing is carried out internally, by employees who thoroughly understand the systems which are being audited. If the audits are regular and the company large enough, you can even have dedicated employees who spend the majority of their working lives on them. You can, though, call in experts in a certain process from outside to give you guidance and ideas you may not think of yourself. It only takes a very small improvement in a process carried out many times to make a large difference in productivity. This is the great strength of process auditing.

audit information

 

 



Surviving an IRS Tax Audit - Click Here



Audit Information News:

 

NSW agencies struggle with security basics - ZDNet

ZDNet

NSW agencies struggle with security basics
ZDNet
(Image: Audit Office of NSW). For those with an interest in information security, who would like a sobering read to take the edge off the holiday cheer, the Report on Internal Controls and Governance 2017 from the Audit Office of New South Wales fits .

..


This RSS feed URL is deprecated
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news..


Mumbai Safety Audit: Several stations in need of desperate up-gradation - Mid-Day

Mid-Day

Mumbai Safety Audit: Several stations in need of desperate up-gradation
Mid-Day
mid-day concludes its station audit with one key observation EUR though several stations have been upgraded, that hasn't helped. The basics are off, and that's where rlys needs to begin . but managing to come out unscathed from the melee outside the .

..


Your start-up received an audit notice EUR what's next? - International Law Office

Your start-up received an audit notice EUR what's next?
International Law Office
More information about your rights with respect to statute of limitations can be found here. The agent is proposing adjustments you don't agree with EUR what next? If you think the agent has made a mistake, you can request a meeting with the agent and .

..


Building Science & Energy Auditing Fundamentals - Buildings (press release) (blog)

Buildings (press release) (blog)

Building Science & Energy Auditing Fundamentals
Buildings (press release) (blog)
This 2-hour course provides a comprehensive overview of residential building system basics and energy auditing principles. The program begins with an introduction to the fundamental energy and science concepts that shape the performance and analysis of .

..


Alum Rock faces credit slam after critical state audit - The Mercury News

The Mercury News

Alum Rock faces credit slam after critical state audit
The Mercury News
EURWe need to get the basics fixed,EUR said parent Randi McMasters. EURYou're not going to get any more money from us. People are ticked.EUR Trustee Martinez, who originally had approved the Fischer project, explained she has changed her mind. EURI don't believe .

..


Billions wasted by local governments across SA - Independent Online

Independent Online

Billions wasted by local governments across SA
Independent Online
Johannesburg - South Africa's municipalities continue to bleed billions of rand in taxpayers' money on irregular and wasteful expenditure, despite local governments battling to deliver services. And the problems are the same: unskilled municipal .

and more »
..


 

share