Internal Audit and Review
An auditor may specialize in types of audits based on the audit purpose, such as to verify compliance, conformance, or performance.
Some audits have special administrative purposes such as auditing documents, risk, or performance or following up on completed corrective actions.
The main objective of an internal audit is to assess and when necessary improve the effectiveness of internal business controls, risk-management plans and overall business processes.
Our auditors generally conduct audits following four general steps:
- Planning.
- Gathering evidence.
- Evaluating evidence.
- Issuing a report.
The feasibility study focuses on helping answer the essential question of should we proceed with the proposed ”project idea?” All activities of the study are directed toward helping answer this question.
It helps to “frarne” and “flesh-out” specific business scenarios so they can be studied in-depth.
During this process the number of business alternatives under consideration is usually quickly reduced.
If you examine successful businesses, you will find that they did not go into a new business venture without first thoroughly examining all of the issues and assessing the probability of business success.
The feasibility study is a critical step in the business assessment process.
If properly conducted. it may be the best investrnent you ever made.
