Auditing and Reporting of Business Performance Coursework

Auditing and Reporting of business organization death penalty - Coursework ExampleThe Internal Auditing System pauperization to follow a structured model within the governing bodys business framework that enables the business data to be fetched from various data sources such that they can be mapped with the Strategic Business Objectives within the auditing framework. given up that the strategic objectives of every business would be different, an empirical analysis pertaining to an industrial sector in general may not be completely useful to every company in that Industry. However, Organizations can definitely stop the direction on the methodology that can lead to successful implementation of an Internal Auditing system which in turn can help in mapping the internal systems & processes of the organization with the strategic business objectives. This question is an attempt to establish such an empirical generalization pertaining to the modern practices in auditing and improveme nt of Business Performance (Hewitt, Bill. 2008. pp50 Pollieri, Maria. 2007. pp26-30 Boerner, Hank. 2007. pp41-43 James, Mick. 2008. pp27-28)While an external auditor can add value to the internal auditing system of an organization, the actual contributions would be tangible from the internal auditing team only. ... This is because the reports being put forward to the executive management would be efficaciously modelled and consolidated by an internal team possessing in depth knowledge of the business system of the organization. Given the role & positioning of Internal Auditors, they are best placed to analyze and build these analytical models and draw audit reports that shall help the executive management to take timely proactive steps in enact to protect the current competitive advantages as well as form new competitive advantages of the organization in new market segments, locations or countries. These models deliver intelligently analyzed reports pertaining to business perform ance and so are commonly known as Business Performance Management (BPM) that is supported by the Business Activity Monitoring (BAM) systems.A BAM system has the potential to enable a business towards partial or full automation of business modelling & reporting consequently ensuring better Process Efficiency, intensify Employee Productivity, enhanced Customer satisfaction & retention, Transparency, Accuracy & Security of Business Information, improved compliance to Statutory Requirements & Regulations, and finally surety of Business & enhancement of Bottom Lines. The BPM practice essentially changes the way a business operates thus making it more structured, disciplined, informed and well aligned towards the business goals. Such a system unleashes a number of secrets of correlations and analysis pertaining to the business dynamics delivered with excellent levels of accuracy. The Internal Auditors are informed with accurate and self-consistent data from a tightly integrated and c ontrolled system. (Landry, Steven. P, 2008. p218 April, Carolyn A. and Margulius David L. 2002. pp27)Table of