2016-12-09 00:00:00 Running a Business English Review the role of internal auditors. Identify scenarios where your small business may need an internal auditor. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/10/Small-Business-Internal-Auditor-At-Work.jpg https://quickbooks.intuit.com/ca/resources/business/decide-if-your-small-business-needs-to-hire-an-internal-auditor/ Decide if Your Small Business Needs to Hire an Internal Auditor

Decide if Your Small Business Needs to Hire an Internal Auditor

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An internal auditor looks over your business practices, identifies risks, and sets up controls or processes to analyze your operations for potential issues. Internal auditors don’t just work with big businesses or corporations; these individuals can also help small businesses.

If you are worried about internal theft, fraud, industry compliance issues or similar matters, you may want to consult with an internal auditor. Alternatively, you may want to develop your own strategies to monitor these issues in a way that safeguards against them. For example, simple processes such as having a second person reconcile receipts with accounting software entries once a month can be considered a type of internal audit.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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