Overview
COAE process audit is an examination of results to determine whether the activities,
resources and behaviours that cause them are being managed efficiently and effectively. All business sectors benefit from the process audits. This audit by COAE process experts is not simply following a trail through a department from input to output – It’s a transaction audit which establishes whether the results are being generated by an effectively managed process.
These audits look at specific processes, activities or functions performed by an organization. The auditor compares the actual process with the documented requirements of the process and the best industry practices.
An audit provides trusts with an excellent method of benchmarking successes, as well as identifying areas for improvement over the course of the year. This provides invaluable hard data to the employees, helping to learn from mistakes and encourage different perspectives to improve on key focuses.
COAE generally conducts process audits once a year, but it is worthwhile considering scheduling regular internal audits. With consistent and objective internal scrutiny, various teams can clearly demonstrate stringent process controls. They will not have to scramble for information at the last minute before COAE audit.
Outcome & Benefits
Determine adequacy of internal controls.png)
Enhance process effectiveness and efficiency.png)
Data Promote best practices for controls.png)
Ensure compliance with policies and regulations.png)
Identify operational inefficiencies and waste.png)
Monitoring of projects, systems and use of technology.png)
Establish data-driven approach for decision making.png)
Assess efficient and responsible use of resources.png)
Identify potential cost savings.png)
Assist management in addressing complex, cross-functional issues
