Importance of internal audit to the organization
Write down the importance of internal audit to the organization?
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An audit aids keep track of where the money is going and ensures the money is going where it is supposed to and not in someone's pocket. An audit can also aid a company know if it is making or losing more money.
Write down the essential principles of an internal audit control system?
How does the internal audit vary from an external audit?
Write down the techniques which are used throughout an audit?
Elucidate the differentiation between External Audit and Internal Audit?
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The length of the writing / reportmust not exceed 1000 words. Words in Bibliography or Reference Lists section are not included in the word count. 3 marks will be given for the contents (sources and understanding of industry and able to link audit objectives with findings); 1 mark will be given ba
Internal Controls: Internal control includes the plan of organization and all of the coordinate techniques adopted within a business to defend its assets, ensure the accuracy and consistency of its accounting data, encourage operational efficiency, an
Briefly explain the term vouching ?
Case must be analyzed and reports run using ACL 9 desktop software (Education Edition). Screenprints of reports should be included and explained. All work must be cited.
A term usually referring to a financial audit is a set of procedures performed by accountants from a certified public accountant (CPA) firm. The procedures are designed to investigate and verify the accounting information that manage- ment puts in financial report. When the audit i
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