Pavan Jain S
(Chartered Accountant)
(1575 Points)
Replied 06 February 2009
INternal audit is at the instance of the management for internal purposes. The scope of such audit will be defined by the management itself and the auditor is required to report to the management. Such audit can be conducted either by the Internal audit team of the entity[Employees] or a outside firm. If a outside firm is engaged, it is called outsourcing of audit.
Vouching is technique wherein you satisfy yourself whether entries in the books of accounts are substantiated by corresponding documentary evidence.
Lohith
(Accounts Assistant)
(115 Points)
Replied 09 February 2009
Hello Sir
Thanks a lot for the information given..
CAclubindia
