Audit

Audit

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Instructor:

Audit

Objective of Audit

The ambiguity existing in the present business setting arises mainly from change. Although alterations originate from several sources for instance, transitional technologies such as social sites, it all seemed to be approaching at gradually swift speeds, particularly for internal auditors. An audit of needs and overall strategies has several objectives. The most important objective is to establish the effectiveness of controls over in offering managers with rational guarantees that the operating and financial data is precise and consistent. Audits also establish whether controls furnish managers with guarantees that appropriate conformity actually takes place. One of the minor objectives of audits is to clarify the organization’s goals and purposes. In the current organizational environment, it is becoming difficult to differentiate between numerous priorities and essentials that are instigated in organizations. Through audits, these priorities can be categorized easily. Strategic audits are concerned with ascertaining that business resources and competencies are comprehended and assessed. While resource audits evaluate the available resources that can be used by a business, the value chain audit focuses on the competitive abilities of the organization.

Audit reports contain important information to an organization that requested the audit to be conducted. Information from audits includes employee capability, available resources and long-term/ short-term needs of the organization. These reports are considered a crucial instrument when relaying strategic information to the clients that are mostly business. Since many clients prefer, or even demand strategic information to be approved by an autonomous third-party auditor, many clients depend on these reports to bring in investors. This information will guide the decisions made by managers and administrators.

Green Supply Chain

Simply put, a green supply chain refers to the procedure of employing environmentally sustainable inputs and converting these inputs using change agents – whose derivatives can enhance or be recycled within the current environment. This process produces results that can be regained and reprocessed at the conclusion of their life cycle therefore, developing a sustainable supply chain. One of the techniques of introducing ‘green’ aspects into an organization is by embracing technological innovation within the processes of the business. Most of the businesses have operations that pollute the environment through their equipment. Factories make use of fossil fuels such as diesel and electricity and these pollute the environment. By adopting alternative and cleaner sources of energy such as solar and wind power, an organization can significantly reduce the amount of carbon dioxide and other poisonous gases. Other technological innovations that can introduce greener options include changes in equipment and machinery.

A business can also introduce aspects of green operations by starting small changes that will in turn affect bigger areas. Departments such as production and design have the largest levels of productivity and therefore, need to start on recycling and conservation programs before any other changes. This will involve inspecting the organization with a microscope to come up with the areas that violate different green initiatives. After inspection, the management should come up with solutions that are tailor-made to suit the issues. For instance, recycling initiatives can be introduced in production sectors. Therefore, by installing such green measures, the organization can join the group of other businesses that embrace cleaner ways of operation. Greener initiatives also offer savings on the company’s expenditure and improve the stature of the business within the society.