The Disquisition On Maximizing Internal Audit Value In Subcontracting Settlement Of Company A

A is an engineering company with its business scope covering areas of scientific research and development, engineering design, manufacturing, construction, etc., with technology as a guide, design as a basis and EPC and project management as main business. In recent years, accompanying the rapid development of engineering contracting business and the continuous increasing of sub-projects, the contradictions between internal audit task and internal resources become very prominent. Satisfying with the internal audit quality and internal audit function, how to improve internal audit efficiency and reduce internal audit costs, is a new issue and has a very important practical significance to internal audit of Company A.Internal audit department audit work must face the new direction of the new situation, adapt to the new normal, play more positive role of audit work, meanwhile, continuously explore the new methods, new ideas of subcontract settlement audit to improve audit quality and level and to promote the healthy development of the internal audit.Based on the present data of A company, this article will analyze the relationship between audit costs and audit effectiveness to propose audit ways and means that effectively improve audit efficiency, enforce cost control to achieve internal audit maximize value.A company faces the lack of audit resource, unreasonable audit resource allocation, the inaccurate audit content, unscientific the audit cost control and the audit quality to be further improved. In order to reduce the audit cost and improve the audit quality, this paper use theory of value as research direction based on the current situation and problems. By means of quantitative analysis of the relationship between the audit cost and audit benefits, we achieve the purpose of optimizing the configuration of the audit resources. By means of detailed analysis of the factors influencing audit benefits, we scientifically select the audit focus so as to raise the utilization rate of audit resources. Audit quality is the lifeline and powerful guarantee to realize the value of audit to the audit department. This paper sums up the settlement management problems of A company, puts forward the improving ways and means to improve the internal auditing skills and methods, strengthen the external audit quality control, make full use of the internal audit results.Through the research, the main ways to achieve the maximum value of the A companies are:first, A company should be appropriate to add a small amount of full-time audit staff, and use the external audit resources reasonably. At the same time, establish the settlement rate analysis model and probability statistics and select the focus of the audit to improve audit resource utilization. Second, A company’s internal auditors should face the new settlement audit requirements, improve the understanding and potential risk pre judgment ability of the subcontracting settlement audit, strengthen their technology and skills and promote audit quality control of external entrustment from data collection, personnel qualification to results inspection. At the same time, A company’s internal auditors should refine and summarize audit results, expand advertising and implement the audit rectification to strengthen the use of audit results.