Internal Audit vary From an External Audit
How Does an Internal Audit vary From an External Audit?
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Internal audit nothing save for the checking the product which you produced.
External audit is checking your product through your customer.
Here it means you might not find errors in your processes however a third man who comes and ensure the system he might see some variations in the system and give suggestions for the enhancements of the system.
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
Write down the importance of internal audit to the organization?
Audit procedures that ignore the actual computer processing part of business activities. A sample of input is tested and verified through standard audit technique, and the output is checked. Auditing around the computer assumes that if the output rights, then the processing is righ
How does the internal audit vary from an external audit?
Write down the main Objectives of Internal Audit?
Write down the essential principles of an internal audit control system?
Distinguish between Operating versus Non-Operating Revenue?
Explain briefly statutory audit?
A signed letter from the auditor of a company, included in the annual report, that state whether or not the finan- cial statements fairly present the results of operations and the financial position of the company. An annual audit is required by the Exchange and Securities Commissi
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