Whats come after audit
What to do after the audit?
Expert
i) Conduct an auditors meeting to converse the closing meeting content.
ii) Conduct a closing meeting with all auditees engaged with the audit. First, point out what was completed well. Second, address the nonconformance’s and makes sure the auditees comprehend the nonconformances and what division of the standard is not met.
iii) Issue the audit report in a timely way.
iv) Promote auditees to decide on the counteractive actions. Allowing auditees to have input will give them ownership in executing changes.
v) Aid those responsible for completing the counteractive actions with setting reasonable deadlines. The counteractive action deadlines might differ depending on the severity of the noncompliance.
vi) Be accessible and willing to aid the auditees.
vii) Ask for pointer on how you and your audit team were perceived - regulate your approach if essential.
What is the liability of Internal Audit Charter?
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
Give a brief introduction of the term Internal Audit and also write down the Role of Internal Audit?
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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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