BNET Business Dictionary
Business Definition for: Operational Audit
- a structured review of the systems and procedures of an organization in order to evaluate whether they are being conducted efficiently and effectively. An operational audit involves establishing performance objectives, agreeing the standards and criteria for assessment, and evaluating actual performance against targeted performance.
- Also known as Operations Audit
Additional Resources
- Audit committees focus on operational risk: FBI targets corporate corruption banking group proposes self-regulation for risks management transparency linked to ethical workforce financial restatements increase sharply
- AUDIT COMMITTEES ARE EXPECTING INTERNAL AUDIT departments to make strategic, operational, and business risk a higher priority as demands of compliance with the U.S. Sarbanes-Oxley Act of 2002 have eased in the past year, according to the 2008 State of the Internal Audit Profession Study by PricewaterhouseCoopers PwC LLP. The...
- Research articles 2008-06-01
- SIA successfully completes IATA Operational Safety Audit.
- M2 PRESSWIRE-23 April 2004-SINGAPORE AIRLINES: SIA successfully completes IATA Operational Safety AuditC1994-2004 M2 COMMUNICATIONS LTD RDATE:04212004 On 26 March 2004, Singapore Airlines SIA successfully completed the International Air Transport Association IATA Operational Safety Audit IOSA. SIA is...
- Research articles 2004-04-23
- Copa Airlines Achieves IOSA Registration Granted by International Air Transport Association; Airline is Recognized for Meeting International Standards of Quality and Operational Excellence
- PANAMA CITY, Panama -- Copa Airlines has earned IOSA Registration from the International Air Transport Association IATA. The IATA Operational Safety Audit Program IOSA is a standardized audit of airline operational safety management and control systems in such areas as corporate organization and management, flight operations, operational control/flight dispatch, aircraft...
- Research articles 2005-08-05
- Expanding the Mission of Internal Audit
- The concept of internal audit is defines in this article, and explains a statement - Best-of-class companies are taking the audit beyond statutory reporting requirements to add new value to the finance function. In fact, operational audits can save companies millions. Internal audits have been moving toward operational audits in...
- White papers 1997-07-01
- Sarbanes-Oxley Regulation- Non-Audit Services by Independent Accountants
- On January 22, 2003, the Securities and Exchange Commission adopted final rules to carry out the provisions of the Sarbanes-Oxley Act of 2002, restricting the types of non-audit services which auditing firms may provide to their audit clients, and imposing audit committee approval requirements and corporate disclosure obligations with respect...
- White papers 2003-03-01
- TAM Renews IOSA International Operational Safety Certification.
- SAO PAULO, Brazil, January 18 /PRNewswire/ -- - IATA-accredited Audit attests to quality of company's operations and control systems after 940 question-examination TAM Linhas Aereas (Bovespa: TAMM4; NYSE: TAM) has had its IOSA certificate IATA Operational Safety Audit renewed until January...
- Research articles 2008-01-18
- Establishing New Internal Audit Functions
- Establishing an internal audit function is really becoming a best practice for any company whether it's a private or public firm. Creating an internal audit function, increases management's view as to what's really happening inside the organization. This article points that companies considering creation of an internal audit function need...
- White papers
- On-line control assessment - computer programs and Curtin University of Technology's internal audit shop
- By adapting an on-line assessment tool to their specific needs, Curtin University's internal audit shop has greatly enhanced its control reviews. Internal audit departments worldwide face the double-edged challenge of servicing a growing audit universe with limited staff resources. Our internal audit staff at Curtin University of Technology in...
- Research articles 1998-10-01
- Identifying Problems In Operations
- Implementing cost effective internal controls prevent problems before they actually occur. Hiring a certified public accountant CPA to conduct an operational audit of a company. An operational audit is a planned search for ways of improving efficiency and effectiveness and can include an evaluation of existing internal controls. Get involved...
- White papers 2003-01-01
- Highwoods Properties Reports: Third Quarter 2005 Operational Results; 85.8% Occupancy; 1.6M sf Second Generation Space Leased
- RALEIGH, N.C. -- Multi-Tenant Office Building in Richmond Announced Status Update on Financial Review and Audit Highwoods Properties, Inc. (NYSE: HIW), the largest owner and operator of suburban office properties in the Southeast, today reported operational results for the third quarter of 2005. The Company also announced that it...
- Research articles 2005-10-25
- Is Sarbanes-Oxley Compromising Internal Audit?
- It's a brave new world for internal audit, one that presents new opportunities and new risks. The function has risen to the challenges that the new regulatory environment poses. Now finance and internal audit executives must find ways to balance internal audit's independence with its ongoing compliance contributions while keeping...
- White papers 2005-08-01
- Railinc Successfully Completes SAS 70 Type II Audit; Railinc Meets International Standard for Protecting Customers' Financial Data and Transactions
- CARY, N.C. -- Railinc today announced that it has successfully completed a Statement on Auditing Standards SAS 70 Type II examination. The Type II audit is much more stringent than Type I, because this audit includes detailed testing of the service organization's controls. The SAS 70 audit validates internal controls...
- Research articles 2005-01-20
- Northwest Airlines Achieves 2008 IOSA Registration; 900 safety audit standards met.
- M2 PRESSWIRE-11 January 2008-Northwest Airlines: Northwest Airlines Achieves 2008 IOSA Registration; 900 safety audit standards metC1994-2008 M2 COMMUNICATIONS LTD RDATE:08012008 EAGAN, Minn -- Northwest Airlines (NYSE: NWA) today announced that it has successfully completed the renewal audit of the...
- Research articles 2008-01-11
- Business Process Management (BPM): Support Technology for Operational Risk Management
- New regulatory developments, especially those related to Basel II, have turned operational risk into a key issue for managers in the financial services sector. Operational risk has traditionally been managed with specific solutions, whereby different departments develop a variety of support policies and procedures. In addition, risk occurrences are usually...
- White papers 2005-11-01
- Inflow-Nashville Undergoes SAS 70 Audit; LBMC Hired to Audit Inflow's Capabilities in Five Key Operational Areas
- NASHVILLE, Tenn. -- Today, Inflow-Nashville, a leading provider of outsourced technology services, announced it is undergoing a SAS-70 Type II Audit of its Internet Data Center IDC facility in order to meet the compliancy requirements of several customers.
- Research articles 2004-09-14
- ABC to Consider Changes Aimed at Further Reducing Audit Times
- The Audit Bureau of Circulations will consider additional operational changes, and possibly rule changes, to further reduce the time involved in releasing consumer magazine audit reports.
- Research articles 2003-03-01
- Paisley and Lombardi Partner for Next-Generation Governance, Risk and Compliance Solutions; Risk Management and Audit Customers to Benefit From Integrated Business Process Management
- AUSTIN, Texas & COKATO, Minn. -- LombardiR, the leader in Business Process Management BPM software for Global 2000 companies, and Paisley Consulting, a leading provider of operational risk management, Sarbanes-Oxley compliance and audit automation software, today announced an OEM agreement for Paisley's next-generation risk management, audit, and compliance solutions. Next-generation...
- Research articles 2006-06-07
- FCC audit searches for unused spectrum. (News).
- WASHINGTON--The FCC is cleaning house with hopes of uncovering some unused spectrum during its sweep. In an audit launched last fall to improve spectrum efficiency, the FCC began probing the operational status of private land mobile radio, including public safety spectrum, in...
- Research articles 2002-02-11
- Audit: Homeland Security Unprepared
- An internal audit released in June revealed that the U.S. Department of Homeland Security DHS - the office in charge of preparing the nation for disaster - is not ready for one itself.The audit found that IT operations within the DHS are generally unprepared to recover from a major disaster....
- Research articles 2005-09-01
- American Airlines Successful In Key International Safety Audit.
- M2 PRESSWIRE-27 June 2007-American Airlines: American Airlines Successful In Key International Safety AuditC1994-2007 M2 COMMUNICATIONS LTD RDATE:26062007 FORT WORTH, Texas - American Airlines has successfully completed the International Air Transport Association's Operation Safety Audit IOSA for 2007 and is awaiting...
- Research articles 2007-06-27
