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.
A subgroup of the board of directors composed of directors who are independent of an organization and not employed by organization. The committee acts on behalf of the full board and all stockholders to check on management actions and it has responsibility for the soundness of the
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Auditing: Auditing is the systematic procedure of objectively obtaining and estimating evidence regarding assertions concerning economic actions and actions to ascertain the degree of correspondence among those assertions and established criteria and
Operational Audits: It is a review of how an organization's management and its operating events are functioning with respect to their efficacy and efficiency in meeting stated objectives. For illustration, a business might execute an operational audit
Write down the techniques which are used throughout an audit?
Write down the importance of measuring an internal audit department?
Elucidate the difference between statutory audit and internal audit?
Write down the essential principles of an internal audit control system?
Explain briefly statutory audit?
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