Internal audit Essays & Research Papers

Best Internal audit Essays

  • Internal Audit - 2325 Words
    Introduction This report aims to investigate the role Internal Auditors (IA) plays in certain aspects of corporate governance. The report also aims to investigate what is considered as good corporate governance. “Corporate governance is the system by which companies are directed and controlled. It deals largely with the relationship between the constituent parts of a company - the directors, the board (and its sub-committees) and the shareholders” (Berr, 2008) Corporate governance is...
    2,325 Words | 8 Pages
  • INTERNAL AUDIT - 1487 Words
    INTERNAL AUDIT 1 Internal audit ‘Internal audit’ is an appraisal activity established by management for the review of accounting and internal control systems as a service to the entity. It reviews, monitors and make recommendations for the improvement of systems. Other activities include: Examination of financial information Review of economy, efficiency and effectiveness (‘value-for-money’ audits) Review of compliance with external laws and regulations Review of internal policies...
    1,487 Words | 6 Pages
  • internal audit - 2436 Words
    Internal audit’s role in effective corporate governance advisory Internal audit’s role in effective corporate governance ­  Internal audit’s role in effective corporate governance Recent events have highlighted the critical role of boards of directors in promoting effective corporate governance. In particular, boards are being charged with ultimate responsibility for the effectiveness of their organisations’ internal control systems. The internal audit function plays a key...
    2,436 Words | 15 Pages
  • Internal Audit - 2306 Words
    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...
    2,306 Words | 10 Pages
  • All Internal audit Essays

  • Internal Audit - 15117 Words
    Course Schedule Course Modules Review and Practice Exam Preparation Resources Module 1: Introduction to internal auditing Overview The first module in this course sets the stage for your study of internal auditing (also known as “management auditing”). You consider the definition, development, and scope of internal auditing. You also consider the business environment and identify and analyze its accompanying risks. The various types of internal audits and the relationship...
    15,117 Words | 58 Pages
  • Management of the Internal Audit Function
    MANAGEMENT OF THE INTERNAL AUDIT FUNCTION INTERNAL AUDITING (According to IIA) -Azleen Ilias- 1 IPPF_AI The learning objectives  Understanding the importance of proper positioning of the internal audit function within the organization  Identify the benefits of various organization structures  Identify the roles of responsibilities of the key positions  Understand the policies and procedures of internal auditing 2 IPPF_AI Relevant standards  1000 – Purpose,...
    2,411 Words | 17 Pages
  • Internal Audit Manual - 24161 Words
    ABC Company Internal Audit Manual Internal Audit Manual Page 1 TABLE OF CONTENTS TABLE OF CONTENTS...................................................................................... .....2 CHARTER......................................................................................... ....................5 INTRODUCTION................................................................................................5 ORGANISATION AND BOARD...
    24,161 Words | 91 Pages
  • Literature Review on Internal Audit
    Survey finds internal audit risk assessments inconsistent Year: August, 2007 The report suggests that internal auditing needs to identify areas of high and moderate risk that are part of the internal audit plan but have been deferred or cancelled because of the organization's focus on Sarbanes-Oxley Section 404. It recommends that chief audit executives (CAEs) revisit the budgets, skills, and capabilities needed to achieve a comprehensive, balanced, and risk-based approach to auditing, as...
    1,802 Words | 6 Pages
  • MF0013 Internal Audit Control
    SUMMER-2015 Get solved assignments at nominal price of Rs.120 each. Mail us at: subjects4u@gmail.com or contact at 09882243490 Master of Business Administration- MBA Semester 3 MF0013–Internal Audit & Control-4 Credits (Book ID: 1733) Assignment (60 Marks) Note: Answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Each Question carries 10 marks 6 X 10=60. Q1. Describe & explain the term auditing. “Personal qualities of an auditor...
    508 Words | 2 Pages
  • Introduction to Internal Audit - 5093 Words
    Master of Business Administration - MBA Semester 3 Subject Code – MF0013 Subject Name – Internal Audit and Control -4 Credits (Book ID: B1211) Assignment Set- 1 (60 Marks) Q.1 Critically evaluate the qualities of an Auditor in the wake of recent scams Ans:- What should be the qualities of Internal Audit Personnel? There is no universal answer to this question. We can only generalize about the qualities of internal Audit Personnel. It has been observed that internal auditors and...
    5,093 Words | 16 Pages
  • Determinants of Internal Audit Effectiveness
    Abstract This study extends the literature by building a conceptual understanding of the determinants of the effectiveness of internal audit in organization. This finding specifically investigates five determinants of internal audit effectiveness which are in-house internal audit vs. outsources internal audit, independent and objectivity of internal audit, staff competency, management support and tone at the top and scope of services and planning. Toward this end it confirms the five...
    8,682 Words | 22 Pages
  • Internal Audit Module - 94368 Words
    INTERNAL AUDIT TRAINING MODULE BASED ON THE INTERNAL AUDIT PROCEDURE MANUAL Ministry of Finance & Economic Development November 2005 TABLE OF CONTENT MODULE I I. INTRODUCTION AND GENERAL BACKGROUND SESSION I INTRODUCTION BREAKING THE ICE LEARNING CONTRACT BASES AND AUTHORITY THE GENERAL CONCEPT OF AUDITING 1 1 1 2 3 SESSION II HISTORICAL DEVELOPMENT OF INTERNAL AUDITING INTERNAL AUDITING IN ETHIOPIA THE SCOPE AND PRACTICE OF INTERNAL AUDITING IN ETHIOPIA NEED TO ADOPT THE...
    94,368 Words | 361 Pages
  • Role of Internal Audit - 2603 Words
    INTRODUCTION Internal auditing is a management-oriented discipline that has evolved rapidly since World War II. Once a function primarily concerned with financial and accounting matters, internal auditing now addresses the entire range of operating activities and performs a correspondingly wide variety of assurance and consulting services. By definition, according to Institute of Internal Auditors (IIA), internal auditing is an independent, objective assurance and consulting activity designed...
    2,603 Words | 8 Pages
  • Independence and objectivity in Internal Audit
     2. Slide #1 The complex and dynamic environment in auditing can be challenging and requires highest level of professional proficiency. Therefore internal audit staff must have professional abilities to carry out the audit functions. Our internal audit department is committed to assist each staff members to meet that responsibilities. Slide #2 Speaker’s notes Independence is the foundation of internal audit, the internal audit activity must be free from interference in...
    1,143 Words | 5 Pages
  • Future of Internal Audit - 6999 Words
    Insights on risk July 2012 The future of internal audit is now Increasing relevance by turning risk into results Contents 1 Survey insights: an overview Our survey results show that while 75% of respondents believe that their internal audit function has a positive impact on their overall risk management efforts, 80% acknowledge that their internal audit function has room for improvement. 4 Increasing relevance from strategy to impact To truly create value and assist the...
    6,999 Words | 53 Pages
  • Internal Audit Report - 816 Words
    Internal Audit Working Paper Physical Plant Audit Page: 8.3.1/1 Evaluate Annual Construction and Major Repair Costs Prepare: KRS Date: 12/08/93 List of Unfinished Projects Reviewer: BMT Date: 12/09/93 Project | Type | BeginningDate(M/YR) | Projected Ending Date(M/YR) | Projected Ending Date(M/YR) | | Wagner Greenhouse | C |...
    816 Words | 4 Pages
  • Internal Audit Practice Framework
    THE PROFESSIONAL PRACTICES FRAMEWORK The material on this CD-ROM was converted from the layout intended for the hard copy, bound book. The files have been modified slightly to remove blank pages. You may see breaks in the pagination and it may appear you are missing a page. Blank pages were intentionally removed. No content was removed or relocated. Disclosure Copyright © 2004 by The Institute of Internal Auditors (IIA), 247 Maitland Avenue, Altamonte Springs, Florida 32701-4201. All rights...
    64,910 Words | 225 Pages
  • Internal Audit Corporate Governance
    A Study on Effective Implementation of Internal Audit Function to Promote Good Governance in the Public Sector Zeleke Belay (BA, BSc, ACCA, MSc,) Lecturer at College of Telecommunication and Information Technology Department of Telecommunication Management Email: zelekebly@yahoo.com Mobile: 251 9 11 66 98 61 Office : 251 11 416 99 00 P.o Box: 1413, Code 1110 Addis Ababa Presented to the “The Achievements, Challenges, and Prospects of the Civil Service Reform Program Implementation in...
    9,949 Words | 48 Pages
  • Internal Audit Current Issue
    8.0 Background According to Wikipedia, Internal auditing is a profession and activity involved in helping organizations achieve their stated objectives. It does this by using a systematic methodology for analyzing business processes, procedures and activities with the goal of highlighting organizational problems and recommending solutions. Professionals called internal auditors are employed by organizations to perform the internal auditing activity. Internal auditors are employed by companies...
    3,707 Words | 11 Pages
  • Internal Audit Charter Assignment
    Internal Auditing & Risk Management Assignment C2 Internal Audit Charter Jennifer Micheli 3759644 June 5, 2012 The first error/weakness: Identification: The purpose of internal audit at ACTION NOW corporations should not be to assist the employees in discharging their fiduciary responsibilities. Explanation: Refer to attribute standard 1000 – Purpose, authority, and responsibility. The internal audit charter establishes the internal audit activity’s position within the organization...
    537 Words | 3 Pages
  • Outsourcing of Internal Audit - 2681 Words
    ITRODUCTION While the world of trading expands all through the time, and the competence in the various industries increased as well, all organizations try to do their best to achieve their objectives and to satisfy their customers. Here arises the role of internal auditing which is to assist management to maximizing the opportunities and to minimizing the threats to the organization. Internal auditing must maximize the assurance provided to the board, the audit committee and the management,...
    2,681 Words | 9 Pages
  • Internal Audit Steps - 34213 Words
    Training Material on Internal Auditing Internal Auditing Handbook 1 Session 1 – External Audit........................................................................5 1.1 Definition and Objective.....................................................................5 1.2 Responsibilities of External Audit ......................................................5 1.3 Scope of the Audit .............................................................................6 1.4 Auditor’s Report Basic...
    34,213 Words | 172 Pages
  • The Importance of Internal Audit - 489 Words
    Internal audit is a dynamic profession involved in helping organizations achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organization. To do this, internal auditors work with management to systematically review systems and operations. These reviews (audits) are aimed at identifying how well risks are managed including whether the right processes are in place, and whether agreed procedures are...
    489 Words | 2 Pages
  • Internal Audit as an Effective Internal Control System at Ongc
    CONTENTS 1. EXECUTIVE SUMMARY 2. INTRODUCTION     Literature Review Global Oil & Gas Industry Overview Indian Oil & Gas Industry Overview Company Overview (ONGC) 2 4 6 6 20 23 24 26 28 38 39 40 41 3. INTERNAL CONTROL & INTERNAL AUDIT  Internal Control  Internal Audit  Standards on Internal Audit 4. PROJECT PROFILE  Objectives  Research Methodology 5. LEARNINGS & OBSERVATIONS  Learnings        Audit Scope & Coverage Organisation Structure of IA Department Audit planning &...
    17,658 Words | 57 Pages
  • Implementation Barriers on Internal Audit in Lgus
    A. Background of the Study Internal Auditing Defined. Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes (The Institute of Internal Auditors). Internal audit, a component of the internal control system,...
    788 Words | 3 Pages
  • Per: Internal Audit and Challenge Questions
    answering challenge questions answering challenge questions [SECTION TITLE] 1 2 CONTENTS Practical experience requirements (PER) 4 challenge questions 5 sample answers 01 Demonstrate the application of professional ethics, values and judgement 6 03 Raise awareness of non-financial risk 7 04 Manage self 8 05 Communicate effectively 10 08 Improve departmental performance 12 10 Prepare financial statements for external purposes 13 13 Contribute to...
    5,204 Words | 33 Pages
  • Internal Audit and the Relationship with Senior Management
    Internal Audit and the Relationship with Senior Management Summary: The case study “Internal Audit Reporting Relationships: Serving Two Masters” was a part of a series of research projects being developed by the Institute of Internal Auditors to determine the various relationships, specifically reporting relationships between the internal auditor and those charged with governance. To obtain research about the various types of reporting relationships, independence, conflicts that arise from...
    1,390 Words | 4 Pages
  • The Relationship Between Internal and External Audit
    THE RELATIONSHIP BETWEEN INTERNAL AND EXTERNAL AUDIT Professor PhD Atanasiu Pop, „Babeş-Bolyai” University of Cluj-Napoca, e-mail: apop@econ.ubblcuj.ro PhD Student Cristina Boţa-Avram, „Babeş-Bolyai” University of Cluj-Napoca, e-mail: botaavram@gmail.com PhD Student Florin Boţa-Avram, „Babeş Bolyai” University of Cluj-Napoca, e-mail: botaavramflorin@yahoo.com ABSTRACT: Analyzing the evolution process of internal audit, from its beginnings and so far, we can easily notice that internal audit...
    3,860 Words | 12 Pages
  • Internal Control and Internal Audit: Ensuring Public Sector Integrity and Accountability
    As part the celebration of the 50th Anniversary of the OECD, OECD Internal Audit and the OECD Public Governance and Territorial Development Directorate, in partnership with the Institut Français de l’Audit et du Contrôle Internes (IFACI), the French Chapter of The Institute of Internal Auditors (The IIA) organised a Seminar on: Internal Control and Internal Audit: Ensuring Public Sector Integrity and Accountability, which was held on 13 April 2011 at the OECD Conference Centre in Paris....
    596 Words | 3 Pages
  • Effectiveness of Internal Audit in the Ministry of Agriculture and Livestock
    Research Title: Assessment of the effectiveness of internal audit in the Ministry of Agriculture and Livestock. Case study of Southern Province Choma Office CHAPTER ONE 1.0 INTRODUCTION 1.1 Back ground According to Hector Perela, (2009), Internal auditing function with other intervention mechanisms like financial reporting and external audit to helps maintain cost-efficient contracting between owners and managers. It is designed by government agencies to add value and improve...
    3,513 Words | 13 Pages
  • Analysis of the Internal Audit Reports of Different Medical Schools
    There are many taxpayer supported medical schools in this country, most receiving their fees for services through Medicare and Medicaid. The Department of Health and Human Services requires that medical students who have graduated to the resident status have a teaching physician physically present when performing key portions of patient service to be able to bill those services to Medicare. In fact, the patient chart must be legibly signed by the attending physician that they were present and...
    901 Words | 3 Pages
  • Analysis of Internal Audit Function in Poland Empirical Research Findings
    B USINESS, MANAGEMENT AND EDUCATION ISSN 2029-7491 print / ISSN 2029-6169 online 2011, 9(2): 236–247 http://dx.doi.org/10.3846/bme.2011.16 ANALYSIS OF INTERNAL AUDIT FUNCTIONING IN POLAND – EMPIRICAL RESEARCH FINDINGS Edita Bielińska-Dusza Department of Strategic Analysis, Cracow University of Economics, ul. Rakowicka 16, 31-510 Kraków, Poland E-mail: edytadusza@gmail.com Received 18 November 2010; accepted 15 January 2011 Abstract. The purpose of the article was to present the...
    6,230 Words | 20 Pages
  • The Effect of the Factors in the Internal Audit Department on the Internal Auditors Objectivity in the Banks Operating in the United Arab Emirates: (a Field Study)
    The Effect of the Factors in the Internal Audit Department on the Internal Auditors Objectivity in the Banks Operating in the United Arab Emirates: (A Field Study) Dr. Riham Muqattash, Asisstant professor, Al-Ain University of Science and Technology, Abu-Dhabi ABSTRACT Since the demand for range of non-audit services increases, the need for appropriate supervision and standards for assuring professionalism and especially objectivity in audit services also increases, this study...
    3,536 Words | 11 Pages
  • Establishing an Internal Audit Department: The Case of the Schwan Food Company
    Global Perspectives on Accounting Education Volume 5, 2008, 1-16 ESTABLISHING AN INTERNAL AUDIT DEPARTMENT: THE CASE OF THE SCHWAN FOOD COMPANY Hugh Pforsich College of Business Administration California State University - Sacramento Sacramento, California USA Bonita K. Peterson Kramer College of Business Montana State University Bozeman, Montana USA G. Randolph Just* ABSTRACT An effective internal audit department adds value to its organization in numerous ways. It helps the organization to...
    5,598 Words | 22 Pages
  • Role of Internal Audit on Achievement of Organizational Objectives. a Case of Commercial Bank of Ethiopa.
    COLLEGE OF MANAGEMENT, INFORMATION AND ECONOMIC SCIENCE SCHOOL OF BUSINESS AND PUBLIC ADMINSTRATION DEPARTMENT OF ACCOUNTING AND FINANCE ROLE OF INTERNAL AUDIT ON ACHIEVEMENT OF ORGANIZATIONAL OBJECTIVES. A CASE OF COMMERCIAL BANK OF ETHIOPA. SENIOR ESSAY SUBMITTED TO DEPARTMENT OF ACCOUNTING AND FINANCE...
    12,329 Words | 41 Pages
  • Audit assignment - 440 Words
    Weaknesses in an Internal Audit Control System by Osmond Vitez, Demand Media An internal audit control system is a common safeguard found in business today. This safeguard is broken down into two parts: internal audits and internal controls. Internal audits are informal reviews by the business owner or employees. They provide information on internal operations in employee performance. Internal controls represent the specific policies the business owner, manager and employees must follow in...
    440 Words | 2 Pages
  • Audit Answer - 13752 Words
    Solutions for Chapter 1 Auditing: Integral to the Economy Review Questions: 1-1. The special function performed by the public accounting profession is the attestation to the fairness of the financial statements of clients. The special function ensures the reliability and integrity of the financial reporting system. Judge Burger described the special function as "certifying the public reports that collectively depict a corporation's financial status," which involves "a public...
    13,752 Words | 48 Pages
  • Audit Committee - 12893 Words
    Accounting Horizons Vol. 21, No. 2 June 2007 pp. 165–187 Auditor Communications with the Audit Committee and the Board of Directors: Policy Recommendations and Opportunities for Future Research Jeffrey Cohen, Lisa Milici Gaynor, Ganesh Krishnamoorthy, and Arnold M. Wright SYNOPSIS: To contribute to the Public Company Accounting Oversight Board (PCAOB) project on auditor communications with audit committees and boards of directors, we present in this paper a review of relevant academic...
    12,893 Words | 39 Pages
  • System Audit - 15569 Words
    Audit Manual – PART TWO SYSTEM BASED AUDIT Table of content 1. 2. Introduction.......................................................................................................................3 Systems based audit ........................................................................................................4 2.1. 2.2. 2.3. 2.4. 2.5. 2.6. 2.7. 2.8. 3. 3.1. 3.2. 3.3. 3.4. 3.5. 3.6. 3.7. 4. 4.1. 4.2. 4.3. 4.4. 4.5. 4.6. 4.7. 4.8. 4.9. 4.10. 4.11. 4.12. 4.13. Preparing for &...
    15,569 Words | 63 Pages
  • Audit Planning - 2694 Words
     Audit Planning Name: Course: Tutor: Date: Audit Planning Introduction Auditing is a vital activity, in every business activity. The International Auditing and Assurance Standards Board (IAASB) is the overall organization that sets international standards for assurance, auditing and other related fields, globally. The organization ensures that there is the harmonization of all international and national auditing and assurance standards to enhance...
    2,694 Words | 8 Pages
  • internal control - 1930 Words
    FNSACC50A Implement & Maintain Internal Control Procedures ASSIGNMENT 1. Who is ultimately responsible for the corporate governance of an organisation? The Board of Directors 2. Who else plays a part in corporate governance? Shareholders, auditors and other stakeholders. 3. Who are the stakeholders? A person, group or organisation that has interest or concern in an organisation. 4. List the corporate governance requirements a company needs to adhere to: The company has an...
    1,930 Words | 7 Pages
  • Internal Auditing - 6084 Words
    British Journal of Arts and Social Sciences ISSN: 2046-9578, Vol.8 No.I (2012) ©BritishJournal Publishing, Inc. 2012 http://www.bjournal.co.uk/BJASS.aspx Effectiveness of Internal Audit in Tanzanian Commercial Banks Dr.Jayalakshmy Ramachandran Asst. Professor, Nottingham University Business School, Seminyih, Malaysia, Email: jayalakshmy.rama@nottingham.edu.my 60386248779 Dr.Ramaiyer Subramanian , Lecturer, Faculty of Business and Law, Multimedia University, Malaysia. Email:...
    6,084 Words | 18 Pages
  • internal auditing - 4699 Words
    The Council of the Malaysian Institute of Accountants has approved this Guideline for publication. These guidelines have been adapted by the Internal Audit Committee of the Malaysian Institute of Accountants from the publication "Guidance for Internal Auditors" issued in June 1990 under the aegis of the Consultative Committee of Accountancy Bodies (CCAB) in the United Kingdom. These guidelines provide advice to internal auditors on the main issues and procedures which they need to consider as...
    4,699 Words | 17 Pages
  • IT AUDIT NOTE - 4493 Words
    Chapter one The Process of Auditing Information Systems 1.1 Introduction The use of computers and computer based information systems have pervaded deep and wide in every modern day organization. An organization must exercise control over these computer based information systems because the cost of errors and irregularities that may arise in these systems can be high and can even challenge the very existence of the organization. An organizations ability to survive can be severely undermined...
    4,493 Words | 14 Pages
  • Audit Module1 - 6626 Words
    BILTRITE PRACTICE CASE A Computerized Audit Practice Case Description of the Practice Case This case has two learning objectives. First, it provides the student an opportunity to apply auditing concepts to a “real-life” audit client. The client, Biltrite Bicycles, Inc., operates within a unique business climate and internal control environment, and the student must assess inherent risk and control risk accordingly. The case contains modules involving sampling applications, risk...
    6,626 Words | 62 Pages
  • audit report - 1868 Words
     INTERNAL AUDIT OF STITCHING STORE ACCESSORIES Held on 25/06/2013 Internal Audit Department A.I. TEXTILES June 30, 2013 Directors A.I Textiles, 11-Km Jaranwala Road, Faisalabad Pakistan Subject: OBSERVATIONS REGARDING PHYSICAL STOCK TAKE OF ACCESSORIES STORE With reference to the subject captioned, we have undertaken the physical stock take assignment of store accessories physically available on the site on 25 june 2013. Scope of stock take assignment...
    1,868 Words | 20 Pages
  • Audit Essay - 1079 Words
    Introduction: AL and MO is a building contractor, it is a middle sized company with turnover of nearly £15 million, but internal company has lots of problems, it will discover the fraud. As an accountant in this company, it is necessary to find the weakness in company and help the company to solve the current problem to consummate the system. It will make the company do batter in the future. Content: (a) Weaknesses in internal control and improve Weakness 1 :This company has no...
    1,079 Words | 4 Pages
  • Audit Report - 3869 Words
    Internal Audit Report ExDRA Internal Audit Report – Walton Halls Barn Feasibility Study May 2006 Internal Audit Report Contents 1 Executive Summary ................................................................................................................ 1 2 Background ............................................................................................................................. 1 3 Scope and...
    3,869 Words | 15 Pages
  • Internal Check - 2173 Words
    INTERNAL CHECK i. INTERNAL CONTROL MEANING AND DEFINITION THE COUNCIL OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF ENGLAND AND WALES “ the whole system of control financial and otherwise, established by the management in order to carry on the business of the company in an orderly manner, safeguard its assets and secure as far as possible the accuracy and reliability of its records.” It is the whole system of controls established by the management for the proper conduct of the various...
    2,173 Words | 8 Pages
  • Internal Control - 6242 Words
    UNDERSTANDING INTERNAL CONTROLS A Reference Guide for Managing University Business Practices Understanding Internal Controls Table of Contents INTRODUCTION .................................................................................................................................................................1 OBJECTIVES...
    6,242 Words | 23 Pages
  • Internal auditing - 1619 Words
    Fundamentals of Internal Auditing September 5-7, 2007 A Three-Day Tutorial Philadelphia, PA on Internal Auditing September 19-21, 2007 Las Vegas, NV Basics October 15-17, 2007 Houston, TX • Get a well-grounded foundation in the concepts of traditional and operational auditing November 5-7, 2007 San Francisco, CA November 12-14, 2007 • Gain proven tools and techniques for performing value-added audits in the era of Sarbanes-Oxley and PCAOB Boston, MA...
    1,619 Words | 14 Pages
  • Internal Auditor - 1493 Words
    Internal Auditing Internal auditing is an independent consulting activity used to add value and improve an organization's operations. Internal auditing improves an organization by providing insight and recommendations based on analyses and assessments of data. Professionals called internal auditors are employed by organizations to perform the internal auditing activity. The goal of internal audit within an organization is very broad and involves topics such as an organization, risk management,...
    1,493 Words | 5 Pages
  • Internal Auditing - 275 Words
    201037076 Puriza U. Topic: Using technology to improve internal audit communications in the Banking Sector Background Internal auditing has come a long way over the last two or three decades. In the past, internal auditing was seen as a mechanism to double-check the thousands of financial transactions that were posted to the accounts each week. Today an internal auditor facilitates the development of suitable controls as part of a wider risk strategy, and provides assurances on the...
    275 Words | 1 Page
  • Internal Control - 1242 Words
    Running head: INTERNAL CONTROL Tarsha Jackson Internal Control Walden University ACCT # 6650 Forensic Advance Audit Topics February 10, 2013 Internal Control The detection of fraud is depending on what type of fraud and the internal controls that are in place. Rancher, Riley and Wells (2011) reported “Statement on Auditing Standards (SAS) No.99 “Consideration of Fraud...
    1,242 Words | 4 Pages
  • Internal Control - 1587 Words
    Case Study 2 – Internal Control 1. Inform the president of any new internal control requirements if the company decides to go public Each of the five components of an internal control system is important. Let us focus on the control activities. These activities are the backbone of the company’s efforts to address the risks it faces, such as fraud. The specific control activities used by a company will vary depending on management’s assessments of the risks faced. The six principles of...
    1,587 Words | 5 Pages
  • Internal Audit Function and Fraud Detection in Government Agencies. Acase Study of Naads Kumi
    CHAPTER ONE 1.0 Introduction This chapter will cover the background of the study, the statement of the problem, the purpose of the study, the objectives, the research questions, and the scope, the significance of the study and the structure of the report. 1.1 Background of the Study According to Hector Perela, (2009), Internal auditing function with other intervention mechanisms like financial reporting and external audit to helps maintain cost-efficient contracting between owners and...
    7,542 Words | 24 Pages
  • The Role of Internal Audit in Prevention of Fraud in Nigeria Banks . a Case Study of Equitorial Bank Lagos.
    TABLE OF CONTENTS Title page Certification Dedication Acknowledgement Table of content Abstract CHAPTER ONE 1. Background of the Study 2. Statement of Problem 3. Research Objectives 4. Significance of Study 5. Scope and Limitation of the Study CHAPTER TWO: LITERATURE REVIEW 1. Introduction 2. Types of Bank Frauds 3. Causes of Fraud 4. Effects of Fraud on Banks 5. Internal Audit function 6. Fraud and Internal Audit 7. Fraud Prevention 1....
    9,962 Words | 30 Pages
  • related to audit theory - 6410 Words
    The term statutory audit refers to the review or the record of the company of the government organization which is required by the law or the municipal authority of any particular region. This is done to monitor the performance of the firm or the government organization. The company here the auditors who provide the auditing report and submit those reports annually or semiannually to the law or the concerned municipal law authority. This statutory auditing finally does the cross checking of the...
    6,410 Words | 18 Pages
  • Auditing and Audit Committee Policy
    MEMORANDUM Date : November 10, 2010 To : Alchemy Corp. (Aren’t we addressing this memo to our parent co., Alchem Corp.?) From : External Audit Team Subject: Internal Control Weakness and related fraud risk After much research and time spent on understanding the inner working of Alchemy Inc., we have found some internal control weaknesses that could lead to potential fraud. Our audit procedures are designed to address internal control weaknesses and subsequent fraud...
    1,978 Words | 6 Pages
  • Marketing Audit Analysis of Bmw
    Marketing audit analysis of BMW. The marketing audit has certain similarities to a financial audit in that it is a review of your existing marketing activities. Carrying out the marketing audit provides the opportunity to review and appraise your whole marketing activity, enabling you to assess past and present performance as well as to provide the basis for evaluating possible future courses of action. Because the business environment is constantly changing, the marketing audit should be used...
    273 Words | 1 Page
  • audit in non profit organization
    OPERATIONAL AUDITING: ACCT 476 / CCAU 525 Internal Auditing in Not-For-Profit Organizations TABLE OF CONTENTS ABSTRACT: .....................................................................................................................................................................2 INTRODUCTION ..............................................................................................................................................................2 SECTION I: CORPORATE...
    3,945 Words | 15 Pages
  • Internal Control System - 1250 Words
    Lecture note on monitoring business and accounting systems. ------------------------------------------------- internal control systems and internal controls An internal control system is the whole system of controls, financial and otherwise, established by the management in order to * Carry on the business of the enterprise in an orderly and efficient manner, * Ensure adherence to management policies, * Safeguard the assets and secure as far as possible the completeness and...
    1,250 Words | 5 Pages
  • Internal Control at Ljb Company
    TABLE OF CONTENTS 1.0 INTRODUCTION 2 2.0 Role of internal control 2 2.1 Management: 2 2.2 Board of Directors: 3 2.3 Auditors: 3 2.4 Staff and junior managers 4 3.0 NEW RULES OF INTERNAL CONTROL 4 4.0 THE GOOD AND THE BAD 10 5.0 RECOMMENDATIONS 12 6.0 REFERENCES 14 1.0 INTRODUCTION Internal control is defined as a process affected by an organization's structure, work and authority flows, people and management information systems, designed to help the...
    4,040 Words | 13 Pages
  • Auditing and Internal Controls - 8743 Words
    Chapter 1 Auditing and Internal Control Review Questions 1. What is the purpose of an IT audit? Response: The purpose of an IT audit is to provide an independent assessment of some technology- or systems-related object, such as proper IT implementation, or controls over computer resources. Because most modern accounting information systems use IT, IT plays a significant role in a financial (external audit), where the purpose is to determine the fairness and accuracy of the financial...
    8,743 Words | 31 Pages
  • Audit and Wall Street - 13163 Words
    THE ACCOUNTING FRAUD @ WORLDCOM: THE CAUSES, THE CHARACTERISTICS, THE CONSEQUENCES, AND THE LESSONS LEARNED by JAVIRIYAH ASHRAF A Thesis submitted in partial fulfillment of the requirements for Honors in the Major Program in Accounting in the College of Business Administration and in The Burnett Honors College at the University of Central Florida Orlando, Florida Spring Term 2011 Thesis Chair: Dr. Pamela Roush Abstract The economic prosperity of the late 1990s was...
    13,163 Words | 44 Pages
  • Post completion audit - 1460 Words
    Post completion audit aims to evaluate the efficiency and effectiveness of the capital budgeting decision that the management has implemented. It compares between the planned and the actual outcome, costs and the use of resources, results and benefits. It contains all assumptions that were made during the decision-making period. It is one of the ongoing continuous processes through which the organisation learns and improves. Recent research suggests that capital budgeting involves far more than...
    1,460 Words | 7 Pages
  • Audit Planning Memo - 2070 Words
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