Boost Operational Efficiency and Strengthen Internal Controls Through Operational Audits

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Improve the way your business performs while surfacing risks sooner with OpsAudit.

The flexibility of AuditBoard allowed us to quickly expand our controls implementation on the operations and compliance side, and then continue the value add that we can bring to the company — more than just SOX, but also enterprise-wide controls, testing, and value-added services.

Vincent Banks

Vice President of Internal Audit

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Benefits of Having a Transformational and Agile Operational Audit Program

Maximize Efficiency

Gain a greater understanding of how future policies and procedures can boost effectiveness.

Understand Risks

Businesses run many operational risks, ranging from health and safety issues to cyber threats. A full operational audit identifies risks like these, as well as potential problems related to fraud and compliance.

Fine-tune Internal Controls

By examining each step of the operational process, an audit can dive deeper into the impact of any changes to internal controls.

What Is an Operational Audit?

Operational audits are a systematic process of evaluating an organization’s effectiveness, efficiency, and economy of operations under management’s control and reporting the results of the evaluation, along with providing recommendations for improvement. In other words, an operational audit is a process for examining how an organization conducts business and identifies areas for improvement to increase efficiency.

Top 5 Operational Audits for a Well-Rounded Audit Plan

Top 5 Operational Audits for a Well-Rounded Audit Plan

Who Needs Operational Audits?

Operational audits impact all levels of the organization, from business operations and management to the board of directors and business operation leaders. When performed successfully, operational audits can act as a critical tool for the C-suite. Well-informed C-suites can leverage the results of an operational audit to drive efficiency throughout the organization and weaponize top performance areas as a competitive advantage when making decisions.

What Is the Purpose of Operational Audits?

The purpose of an operational audit is to identify potential for improvement in the company’s business operations. Conducting regular operational audits can help organizations:

  1. Maximize efficiency: Gain a greater understanding of how future policies and procedures can boost effectiveness.
  2. Understand risks: Businesses run many operational risks, ranging from health and safety issues to cyber threats. A full operational audit identifies risks like these, as well as potential problems related to fraud and compliance.
  3. Fine-tune internal controls: By examining each step of the operational process, an audit can dive deeper into the impact of any changes to internal controls.

How Can I Manage Operational Audits with AuditBoard?

Elevate and deliver value throughout the organization— including audit planning, fieldwork, testing, reporting, and enhanced stakeholder engagement — in one simple platform. OpsAudit centralizes and streamlines all aspects of the audit and related risk analysis, allowing audit teams to accelerate executive reporting, focus on strategic initiatives, and further collaborate with stakeholders. Get real-time visibility into the status of your audit plan, issue reporting, and remediation status.

Resources

Operational Audit Resources

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