International Quality Certification Limited (IQC)
International Quality Certification Limited (IQC) is thoroughly dedicated through training Auditor, Sub Auditor, Assessors and other technical expertise to help its man force in support clienteles of the organization to serve the best in their respective domain of functioning.
Traditionally, Internal Audit was developed as an audit service to the management to ensure that each unit of the organization follows the policies, procedures and instructions laid down by the Management and records are maintained accurately and promptly. Thus Internal Audit was concerned more with routine checking and review of records.
The objective of training and skill development should be to improve the Internal Audit acumen, competence and knowledge management. The aim should be to make sure that the Internal Audit personnel understand the principles and practices alike and simultaneously understand their own responsibility and accountability for compliance to them. The course modules may be continuously improved on the basis of experience gained during the training and feedback from participants and instructors.
The internal auditors should possess sufficient understanding of the role of risk. 4.02 Risk is the possibility of an event occurring that will have an impact on the achievement of objectives. Risk is measured in terms of impact and likelihood. A process to identify, assess, manage and control potential events or situations to provide reasonable assurance regarding the achievement of the organization objectives is called Risk Management. Residual Risk is the risk remaining after management takes action to reduce the impact and likelihood of an adverse event, including control activities in responding to a risk. 4.03 The internal auditor should be alert to the significant risks that might affect objectives, operations or resources. However assurance procedures alone even when performed with due professional care do not guarantee that all significant risks will be identified.