Customer Service Chat
Get quote & make Payment
Explain basic principles of an internal audit control system, Auditing
The core principles of financial internal control are explained here: accounting and financial operations can be separated and the main purpose is the handling of cash and the copy of the movement thereof can be done by different persons. Liability for the performance of the job must be evidently stated so that there may be no reason for doubt or confusion later.
Too much assurance should not be pinned in one entity or individual. Nearly all scam have been committed by trusted officials or staff members. It is interesting to keep record that frauds have occurred owing to their being trusted. Relation opinion relating to shift of an employee from one job to another must be the inflexible guiding rule. And it is an effective safeguard against collusion and is predictable as an important canon of sound business.
Mechanization of the work wherever practicable and feasible should be resorted to, mechanical devices such as recording time clocks, cash register, calculation machines should be known. A system of control accounts must elegantly be fitted in the book keeping structure.
The work should be so managed that work done by one employee must be properly checked by self independent employee. Such continuous & constant checking goods moral control and the errors and the scams cannot go undetected.
Posted Date: 7/28/2012 4:46:01 AM | Location : United States
Ask an Expert
Explain basic principles of an internal audit control system, Assignment Help, Ask Question on Explain basic principles of an internal audit control system, Get Answer, Expert's Help, Explain basic principles of an internal audit control system Discussions
Write discussion on Explain basic principles of an internal audit control system
Your posts are moderated
Write your message here..
Leasehold property - audit process, Leasehold Property - Audit Process ...
Leasehold Property - Audit Process Exactly the same process is adopted for leasehold buildings and land as applied about freehold buildings and land except in the matter of de
Ias 28 - audit process, IAS 28 - Audit Process IAS 28 applies in accou...
IAS 28 - Audit Process IAS 28 applies in accounting for investments in associates, except those held through: Venture capital organisations, or Mutual funds,
International, International, Assurance Auditing, Standards Board (IAASB) ...
International, Assurance Auditing, Standards Board (IAASB) The prologue to the International Standards on Quality Control, Auditing, Assurance and Related Services is issued to
Auditors procedures before stock taking, Auditors Procedures Before Stock T...
Auditors Procedures Before Stock Taking 1) Study of the clients stock taking recommendations and instructions for improvements or changes whether the auditor considers them in
Non current assets or fixed assets, Non Current Assets or Fixed Assets ...
Non Current Assets or Fixed Assets In usual countries, not current assets are commonly classified like: a) Intangible assets Patents Licences Developme
Completeness of liabilities, Completeness of Liabilities In distortion...
Completeness of Liabilities In distortion, the directors tend to involve non-existent assets or keep out liabilities. Hence whereas along with assets we are especially concern
Audits and inspections, Q. What are the different methods available for col...
Q. What are the different methods available for collection and analyzing audit data? Q. Describe and explain common audit findings in the fields of: a. Informed consent proce
Internal Audit., #quInternal Audit checklist for fixed assetsestion..
#quInternal Audit checklist for fixed assetsestion..
Cost audit, concept,need,advantage
Statutory and non-statutory audit reports, Explain the purpose and content ...
Explain the purpose and content of a statutory audit report. Explain what recommendations you would make to the case study business Statuary and Non- Statuary audits In
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Terms & Conditions
Copyright by ExpertsMind IT Educational Pvt. Ltd.