Internal Audit’s Impact on Supply Chain Risks and Resilience: Post-COVID-19 Scenario

The global supply chain has seen its worst days during and after the COVID-19 pandemic, and several well-established business empires have collapsed. Organizations are investing extensively in supply chain management to ensure absolute safety against future disruptions. Due to all this, the impact of internal auditing has increased significantly in the post-COVID era. CIA certification holding professionals are in great demand everywhere. Let’s explore how internal audit impacts Supply Chain Risks and Resilience, ensuring smooth supply & demand operations.

How Does Internal Auditing Impact Supply Chain Risks and Resilience?

One of the biggest reasons individuals are interested in the Certified Internal Auditor course is its increased demand for analyzing supply chain risks. Today, almost every organization wants to stay on top of the supply chain in order to operate businesses optimally. Internal auditors help them optimize their supply chain strategies and smoothen the business operations. Let’s see how.

• Finding Discrepancies in The Supply Chain Model– Every company has a unique supply chain model consisting of various suppliers, vendors or direct manufacturers. Internal auditing ensures the analysis of historical supply chain data, financial records, and purchase transactions. It helps auditors find discrepancies and gaps in the model. Further, auditors assess the risk factors associated with those gaps & discrepancies.
• Strengthening Regulatory Compliance– A good Certified Internal Auditor exam always contains specific modules for Regulatory Compliance. Suffering financial and legal losses is quite common with companies due to Regulatory non-compliance, but after COVID-19, some health-related protocols & regulations have also been added. Internal auditing helps organizations find anomalies and violations of rules, regulations, and laws. Frequent analysis and verification are needed as these protocols and regulations change frequently.
• Diversifying Supply Chain– CIA Exam preparation is incomplete without creating successful problem-solving strategies. The biggest flaw or loophole found in the Global Supply Chain during COVID-19 was over-reliance on a few sources. Internal auditing can be a game changer in analyzing supply chain data and finding any such dependency. Moreover, a Certified Internal Auditor will provide an optimum approach to diversify the supply chain without disrupting operations.
• Incorporating the Latest Technology-Technology is the solution to most issues. Even for complex issues such as supply chain, technology proves to be a masterstroke. Internal auditing focuses extensively on gaps and issues in technological infrastructure. From implementing robust inventory tracking systems to advanced cyber security frameworks, internal auditing prioritizes suggesting the latest technology along with its perfect use cases.

How does Netrika’s CIA Audit Exam prepare you well for the supply chain challenges?

Netrika, an IIA-authorized training partner, leads the market with its top-rated Certified Internal Auditor exam preparation course. From highly valuable certificates to advanced practical training and certified instructors, the course includes all the necessary modules and the latest curriculum.

Additionally, Netrika stands out for its commitment to practical application, integrating real-world case studies and interactive workshops that allow students to apply their theoretical knowledge directly to supply chain challenges. With experienced instructors and a focus on industry-relevant skills, Netrika not only prepares candidates for the CIA exam but also equips them with the tools necessary to navigate the complexities of modern supply chains effectively.

Explore the Netrika CIA Course and learn about all the exciting inclusions.