hey.......................................
internal audit starting to basic point
thank you
5 Replies
Trisha Bedi
(CA)
(78 Points)
Replied 02 May 2008
It vary as per the nature of entity.Pls specify the nature of entity / Industry!!!
Ganesh Narayan.S
(CA Student)
(77 Points)
Replied 19 July 2008
Dear Pawan,iternal audit aims at checking the interal controls of the auditee in in its day to day functioning.The purpose of the audit may vary as per the management's requirements.Check whether the auditee provides any audit scope which will provide a good idea of how to plan your audit.
With Regards
S Ganesh Narayan
CA.Madhavan
(Chartered Accountant)
(942 Points)
Replied 05 August 2008
The role of an internal auditor is to carry out an independent appraisal of how a company works, their processes and the risk that may affect the business. Typically those carrying out the internal audit work across all business functions to gain a complete and comprehensive overview of the company.
The basic functions in an internal audit job can be broken down in the following ways:
Dealing with Risk
Reporting on the Operations of the Company
Uncovering Fraud and Malpractice
Identifying and Preventing the Worst Case Scenario
Creating and Ensuring Appropriate Controls are in Place
Making Recommendations for the Future
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