So adding additional costs to an organization for the purpose of conducting internal audits is an added value how??
I would say that it adds value in the same way that paying an external company to audit you for certification adds value....It simply becomes a cost of doing business.
Additionally, - I this just occurs to me...It may not necessarily cost much if anything....
The standard does not make any requirements for the qualifications of an internal auditor (unless that has changed) so, for a "one man operation", what prevents a family member, spouse, adult child, or a friend or another business associate etc from doing the audit for free?
In the case of business associate it could you audit me and I'll audit you. In the casee of a family member it simply helps "dad" out.
Perhaps some will think my idea above impractical, but I don't know if anything in the standards (as I recall them) that would prevent it.
Peace
James