Merits and demerits of internal audit
Write down the different merits and demerits of internal audit?
Expert
Merits of Internal Audit are illustrated below:
It is in expensive. No charted accounted is needed to audit internally. Mistakes will be removed before recording financial statements. There will not be any kind of discomfiture in the society since mistakes have been removed. Accounting employees will remain in pressure so record will remain update each time in the organization.
Demerits are illustrated below:
Internal audit is not acceptable through the shareholder. There can be mistakes in internal audit since he is not an auditor. As well as there are some more.
How does the internal audit vary from an external audit?
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
Write down the main Objectives of Internal Audit?
In audit how to involve people?
Elucidate the difference between statutory audit and internal audit?
What to do after the audit?
Marketing Audit: One of the most fundamental parts of marketing planning process is marketing audit. It is conducted both at the beginning of the process and also in between the series of points during the implementation of plan. Both internal and ext
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
How can scope of internal audit aid you?
18,76,764
1951022 Asked
3,689
Active Tutors
1427795
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!