Internal Audit
Online Submission Assignment Cover Page
Name: Inna Derypaska
ID#: 2694941 Course #: MU1
Course Name: Internal Auditing & Controls
Assignment #: 1 # of Pages (including this one): 11
Question 2 (27 marks)
THE INTERNAL AUDIT DEPARTMENT
Purpose
To conduct independent, objective assurance and consulting activities created to add value and improve the operation of Newlands Networks Corporation via systematic, disciplined approach to assess and improve the capability of risk management, control, and governance practices.
Slide #1
Speaker’s notes
The role and significance on internal auditing has grown extremely and the____ expectations continue to enlarge. Internal audit tasks have an extensive authority_ to examine financial, operational, information technology, legal/regulatory and__ strategic contingencies. Our purpose is to provide independent and objective ___ assurance to add value and improve our company’s operation via systematic, ___ disciplined approach to assess and improve its performance. We pinpoint three main elements, particularly risk management, controls, and governance. As we all understand, the internal audit activity is not invulnerable to risks. It requires to _ take the essential action to ensure that it is controlling its own risk. Risk management is to recognize and evaluate significant vulnerabilities to risk and add to the______ enhancement of risk management and controls systems. Controls are any activities performed by management, the board and other parties to manage risk and increase the chances that chartered objectives and goals will be reached. To keep up______ effective controls is to assess their effectiveness and efficiency and by encouraging continuous improvement. In conclusion, governance is the mixture of processes___ and structures enforced by the board to inform, direct, manage and monitor the____ activities of the firm toward the success.___________
In
Name: Inna Derypaska
ID#: 2694941 Course #: MU1
Course Name: Internal Auditing & Controls
Assignment #: 1 # of Pages (including this one): 11
Question 2 (27 marks)
THE INTERNAL AUDIT DEPARTMENT
Purpose
To conduct independent, objective assurance and consulting activities created to add value and improve the operation of Newlands Networks Corporation via systematic, disciplined approach to assess and improve the capability of risk management, control, and governance practices.
Slide #1
Speaker’s notes
The role and significance on internal auditing has grown extremely and the____ expectations continue to enlarge. Internal audit tasks have an extensive authority_ to examine financial, operational, information technology, legal/regulatory and__ strategic contingencies. Our purpose is to provide independent and objective ___ assurance to add value and improve our company’s operation via systematic, ___ disciplined approach to assess and improve its performance. We pinpoint three main elements, particularly risk management, controls, and governance. As we all understand, the internal audit activity is not invulnerable to risks. It requires to _ take the essential action to ensure that it is controlling its own risk. Risk management is to recognize and evaluate significant vulnerabilities to risk and add to the______ enhancement of risk management and controls systems. Controls are any activities performed by management, the board and other parties to manage risk and increase the chances that chartered objectives and goals will be reached. To keep up______ effective controls is to assess their effectiveness and efficiency and by encouraging continuous improvement. In conclusion, governance is the mixture of processes___ and structures enforced by the board to inform, direct, manage and monitor the____ activities of the firm toward the success.___________
In