In a company, of course, the term audit doesn’t sound foreign, but along with the general use of the term audit, some people still don’t know the meaning of audit itself. Auditing is the accumulation and evaluation of evidence regarding assertions regarding economic activities and events to ascertain the level of correlation between these assertions and established criteria and communicate the results to interested parties.
An audit is an examination carried out critically and systematically, by a competent, objective, independent party, that does not take sides with certain factions who are usually referred to as auditors. It can be concluded that auditing sometimes called inspection has a broad meaning for an organization, system, process, or product.
The purpose of an audit can be different according to needs. In the business world, we also know the term financial report audit which is usually carried out by public accountants to assess how fair or appropriate the presentation of financial reports is made by the company by referring to generally accepted accounting principles.
Compliance means following written standard rules or guidelines that have been approved or published by an institution or organization internally or externally to the company. The presence of compliance audits regulated in the Statement on Auditing Standards (SAS) is to help companies ensure company compliance with regulations both internally (for example SOP working hours) and externally. When conducting an audit within a company, a compliance audit becomes an internal audit work program to ensure compliance (100%) with applicable regulations.
In general, a compliance audit is a working process to determine whether the audit has followed certain procedures, standards, and rules that have been set by certain authorities. Compliance audits are carried out by carrying out compliance testing to determine whether or not there is information regarding the control structure collected by the auditor. Testing is carried out by following the implementation of certain transactions. This test proves that there is compliance and internal control in the implementation of the initial transaction until the transaction is completed. As an auditor, this test is not only interested in the existence of internal control, but also has an interest in the client’s compliance with internal control.
Nimonik can take auditing to the next level
Auditing is a complex process, usually starting from sample testing, document inspection, and so on. Carrying out a thorough audit manually may no longer be easy considering that there are thousands of standards and regulations that are likely to be updated every year or every few years.
Automation must be present and in that context, Nimonik provides a capable automated audit solution (after setting certain parameters). Compliance audit software is the embodiment of automation and digitalization of the compliance audit process and in that context, Nimonik inc. provides a good solution. Nimonik compliance audit software provides more than two thousand free audit templates. However, custom audit templates are also permitted and can be integrated into the Nimonik audit system. With compliance audit software from Nimonik, users can very easily organize audit schedules, assign responsibilities, and provide all necessary information to the team responsible for the audit process.
The audit process can also be carried out in a directed manner because selecting which documents need to be audited can be done very easily. The audit module provided by Nimonik is able to cover every aspect that will later become the basis for a personalized audit protocol.
Finally, Nimonik’s reputation as a leading compliance software provider in Canada and North America, including Nimonik’s compliance audit software in the audit process for compliance with certain obligations, for example, those related to EHS, EHSQ, and ESG, will make the process much easier and more efficient.
