An operational audit looks at an organization’s systems, processes, and practices. Although it may seem straightforward, this kind of audit thoroughly examines your management procedures to identify all the gaps in your current system, providing you with a summary of the problems at hand. The purpose of the operational audit process is to ascertain whether the company’s internal controls, such as its policies and processes, are enough to create the highest possible degree of effectiveness and efficiency.
Companies receives unbiased opinions after going through the auditing procedure. In essence, it aids in tightening internal controls, cutting expenses, and eliminating irregularities. Along with pointing out irregularities in the processes, the auditor also has a duty to offer a plan for resolving the company’s problems so that management can take appropriate action. It can be undertaken even when it is not required because it helps reduce societal costs.