Internal Audit
Internal audits are structured reviews performed within a financial institution to ensure policies, procedures, and operations meet regulatory, operational, and risk management standards.
For banks and credit unions, internal audits are essential for identifying gaps in compliance, improving operational effectiveness, and preparing for external audits or examiner visits.
Why It Matters
Internal audits help detect weaknesses before regulators or external parties do. A well-executed audit process ensures accountability, policy adherence, and improved risk mitigation.
How SimplifyIT Helps
Our intranet provides internal audit support through tools like audit trails, policy acknowledgment tracking, version history, and task documentation - all searchable and exportable for examiners and auditors.
