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Step-by-Step Handbook for Internal Auditors in Small Businesses: An ISO Pocket Guide

Jeffery Bell

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Published in ISO Internal Audit A Plain English Guide: A Step By Step Handbook For Internal Auditors In Small Businesses (ISO Pocket 6)

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Internal auditing is an essential function for small businesses seeking to enhance their operational efficiency, ensure compliance with regulatory requirements, and mitigate risks. This comprehensive handbook provides a step-by-step approach to internal auditing, tailored specifically to the unique challenges and resource constraints of small businesses. By leveraging industry best practices and adhering to ISO standards, internal auditors can effectively contribute to the success and sustainability of their organizations.

ISO Internal Audit A Plain English Guide: A Step by Step Handbook for Internal Auditors in Small Businesses (ISO Pocket 6)

ISO Internal Audit – A Plain English Guide: A Step-by-Step Handbook for Internal Auditors in Small Businesses (ISO Pocket Book Series 6)

by Dejan Kosutic

4.5 out of 5

Language	:	English
File size	:	510 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	61 pages

Chapter 1: Understanding Internal Auditing in Small Businesses

This chapter outlines the fundamental principles and objectives of internal auditing, emphasizing its role in strengthening governance, risk management, and control mechanisms within small businesses. It explores the key responsibilities and value-added contributions of internal auditors, highlighting their role as independent and objective assurance providers.

Chapter 2: Establishing an Internal Audit Function

This chapter provides practical guidance on how to establish and maintain an effective internal audit function within a small business. It covers the development of an audit charter, the selection and appointment of qualified internal auditors, and the establishment of appropriate reporting lines and communication channels.

Chapter 3: Risk Assessment and Audit Planning

This chapter emphasizes the importance of risk assessment in the audit planning process. It introduces risk-based auditing as a strategic approach to prioritize audit activities and allocate resources effectively. The chapter also provides a step-by-step process for conducting risk assessments, identifying key risks, and developing comprehensive audit plans.

Chapter 4: Conducting Internal Audits

This chapter delves into the practical aspects of conducting internal audits, including the development of audit programs, the collection and analysis of audit evidence, and the reporting of audit findings. It emphasizes the importance of objectivity, professionalism, and adherence to ethical standards throughout the audit process.

Chapter 5: Audit Reporting and Follow-Up

This chapter focuses on the effective communication of audit results and the implementation of corrective actions. It provides guidance on the preparation of clear and concise audit reports, the presentation of findings to management and the audit committee, and the monitoring of management's response to recommendations.

Chapter 6: Continuous Improvement and Quality Assurance

This chapter discusses the importance of continuous improvement and quality assurance in the internal audit function. It introduces self-assessment tools and techniques for evaluating the effectiveness of the internal audit function and identifying areas for improvement. The chapter also covers the importance of maintaining professional development and staying abreast of emerging best practices.

This handbook serves as an invaluable resource for internal auditors in small businesses, providing a comprehensive and practical guide to enhance their professional practice. By adopting the principles and methodologies outlined in this guide, internal auditors can effectively contribute to the success and sustainability of their organizations, ensuring compliance with ISO standards and driving operational excellence.

Alt Attribute for Images

* [Image of an internal auditor conducting an interview] - Internal auditor conducting an interview with a business executive. * [Image of a risk assessment matrix] - Risk assessment matrix used to identify and prioritize risks. * [Image of an audit report] - Audit report summarizing audit findings and recommendations.

ISO Internal Audit – A Plain English Guide: A Step-by-Step Handbook for Internal Auditors in Small Businesses (ISO Pocket Book Series 6)

by Dejan Kosutic

4.5 out of 5