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Audit management system

IA (Internal Audits) Internal audits, also referred to as first party audits, are usually performed by the company’s internal auditing group upon itself. Having an effective internal audit software system is an important tool that allows organizations to determine where key strengths and weaknesses exist within their processes. Once identified organizations can build on their strengths and allocate resources to improve upon weaknesses. EA (External Audits) The objective of an external audit or second party audit, is when one organization audits a different organization to determine if the accounting records are complete and accurate, prepared according to GAAP provisions. The organizations have a contract or agreement for the supply of goods and services. External audits make good business practice. TPA (Third Party Audits) A third party audit reviews high level documents and processes including quality manuals or performance improvement plan, records including training, organizational charts, and observation of the processes within the scope of the audit.

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