How to Facilitate Continuous Improvement with Internal Audits?

Continuous improvement is essential for any business with long-term success and consistent sustainable growth. For businesses that fail to discover ways to continually improve their operations, regardless of industry, there is a risk of inefficiencies, incompatibility and financial losses that hinder future growth. The key to continuous improvement includes a willingness to regularly, in real time, review policies, practices and processes, and change those that hinder growth and success. Regular and effective Internal Audits are necessary to promote continuous improvement and achieve business excellence.

Internal Audit, also known as first party auditing, refers to a systematic process of collecting and evaluating information about an organization's own processes. Internal Audits are an important part of the business management system. It is an important tool for identifying potential future developments and strengths, as well as determining whether products, services, systems and processes meet the required requirements.

Benefits of using a risk-based Internal Audit framework;

- Support continuous improvement,
- Help your business identify gaps,
- Well-directed change and

Internal Audits can encourage continuous improvement by helping businesses to:

- Gain objective business insights
- Process currency and improve operational efficiency
- Assess risks and protect assets
- Gain stakeholder trust
- Taking time for business improvements

Internal Auditing is a process that should be performed at planned intervals. While not specifying a frequency, first of all, all areas of the business should be audited at least once a year.