Introduction of the term Internal Audit
Give a brief introduction of the term Internal Audit and also write down the Role of Internal Audit?
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The internal audit is a constant review of records and operations undertakes in the business and is normally completed by specially assigned employees. It must operate independently of all the internal check and in no case must strip any one of the responsibilities placed upon him. Internal auditing is an independent review activity in an organization for the appraisal of operations as a service to management. It is managerial control that functions by evaluating and measuring the efficiency of other controls.
To accomplish its aims the auditor has to appraisal the subsequent areas:
i) Integrity and Reliability of the information.
ii) Fulfillment with the policies, procedures, plans, laws and regulations.
iii) Protection of assets.
iv) Efficient and Economical employ of resources.
v) Achievement of established aims and objectives for operations or programs.
Elucidate the difference between statutory audit and internal audit?
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.
How does the internal audit vary from an external audit?
Audit Management: It is a systematic assessment of processes and policies of an organization's management in the administration and the utilization of resources, tactical & strategic planning, and employee and organizational enhancement.
find the flowchart to the bradmark sales order and cash
Distinguish between Operating versus Non-Operating Revenue?
Define Revenue in terms of Accountancy in brief?
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
Write down the main Objectives of Internal Audit?
Write down the importance of Internal Audit?
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