Internal audits typically follow a structured process:
1. Planning: Define the scope and objectives of the audit. Determine which areas and procedures will be reviewed. 2. Execution: Collect data through observations, interviews, and reviewing documentation. Use checklists and audit tools to guide the process. 3. Analysis: Compare findings against established standards and identify any discrepancies or areas for improvement. 4. Reporting: Document the findings and provide recommendations for corrective actions. 5. Follow-Up: Ensure that corrective actions are implemented and evaluate their effectiveness.