I work for a Co in the UK. We have been bought by a Brazil Co. They are doing an internal audit. What is it?

Question

I work for a Co in the UK. We have been bought by a Brazil Co. They are doing an internal audit. What is it?

Answer 1

An internal audit is a check done by someone who is employed by your company or parent company.

What is checked can vary but they will be looking at are the premises fit for propose as it is or will they need to spend money on it.

Examples - does the building have asbestos on site ? how old is the roof ?

How old are the electrics ?

Does your site comply with their corporate rules of having a up to date fire alarm / burglar alarm CCTV etc.

Any legal aspect of waste disposal of anything currently stored on site - old chemicals etc.

How modern are the computers / telephone switchboard etc machinery etc.

They will look at your quality assurance manual and management procedures.

Environmental / energy efficiency of the building -equipment ,wastage figures, transport costs etc.

The may well look at your sites potential for expansion ( land area) road access , storage etc.

A more specific financial audit will also be done covering stock and profitability of the site.

Answer 2

Thet are finding out how much money you have had, that wasn't yours.

Answer 3

to see if the profit and loss actually add up, if stock exists, and if staff roles are as they have stated.

it's just a specific audit that buyers all do, so they know where to start for tax reasons etc.

Answer 4

basically clear your desk there's going to be some redundancies