Review:
Internal Audit
overall review score: 4.5
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score is between 0 and 5
Internal audit is a process that evaluates and improves the effectiveness of risk management, control, and governance processes within an organization.
Key Features
- Risk assessment
- Control evaluation
- Governance review
- Compliance monitoring
- Process improvement
Pros
- Helps identify and mitigate risks
- Enhances internal controls
- Improves overall organizational performance
- Promotes transparency and accountability
Cons
- Can be time-consuming and resource-intensive
- May encounter resistance from stakeholders
- Requires skillful auditors with specialized knowledge