kanchan Misra in Auditors Service Management Lead/Risk Consultant Jan 21, 2020 · 1 min read · +700

Auditing balance the Organisation and its Assets

As I am studying for my CIA part-1, recently in a discussion with a fellow student of a different discipline, the statement was made, “No one like Auditors! their job is to find faults.”

I feel that is the notion about Auditors at large. I don’t deny it, because we are trained to find the gaps that others cannot see or may prefer to ignore.

But there is also a very big part of value addition that Auditing brings to the organisation which is seldom realised, including its benefits.

I list below few of the underlying benefits of Auditing, which are not often discussed in the professional world, for people to realise how the Organisations are balanced because of Auditing.

Auditing balance the Organisation and its Assets

  • Employees do not work for any individual but for the organisation.
  • There is no private ownership of company assets. All company assets belong to the Organisation as a whole and not to an individual.
  • Management is part of the Organisation and NOT the Organisation itself. Organisation is governed based on its policies and objectives, and not by the virtues of leadership.
  • There is clear segregation of duties and line of reporting established, ensuring Supervisors are aware of the actions performed by their teams.
  • Employees are self-monitoring and self-disciplined. That is, Employees complete their responsibilities and stand accountable for them.
  •  Every Change is planned with Care. Consider every effect on the Organisation and its assets, that is, people, process and tools.

A common mistake that organisations do is to create a fear about Auditing, rather than looking at it as an activity of self-assessment and guidance that enforces the practice - “Organisation First”.