Objectives of internal audit, Auditing

Assignment Help:

What are Objectives Of Internal Audit?

Ans) The purpose of internal audit is to remain proper control over business activities. When there is proper control there is maximum efficiency. The internal auditor explains the degrees of control over work. The purpose of internal audit is to calculate the accounting system. It is concerned with checking proper authority for transactions like purchase, retirement and disposal of fixed assets. The vouchers can be compared with entries in order to verify that figures are facts.

 


Related Discussions:- Objectives of internal audit

Buyers - disclosure and presentation, Buyers - Disclosure and Presentation ...

Buyers - Disclosure and Presentation This case (case of Aluminium Industries vaassen B V v. Romalpa Aluminium Ltd) are simply relevant whether creditors involve a material amo

Joint audit, Advantages and disadvantages

Advantages and disadvantages

Internal control systems, Internal Control Systems ISA 400: “Internal c...

Internal Control Systems ISA 400: “Internal control system” means all the policies and processes (i.e., internal controls) accepted by the management of an entity to assist in

Valuation and income - verification procedures, Valuation and Income - Veri...

Valuation and Income - Verification Procedures Valuation Valuation of listed securities is easily conformed along with suitable financial publications. Directors' valua

Tangible non current assets, Tangible Non Current Assets The verificat...

Tangible Non Current Assets The verification approach is fundamentally similar in each of these.  Extensive disclosure is utilized in most countries and IAS 16 Property Equipm

Negligence in general, Negligence in General There is no case against a...

Negligence in General There is no case against auditors and this made it hard to be accurate as to where the auditor’s legal liability falls.  We require therefore referring to

Case study and report, Assessment item 2 Case Study and Report Due date: 19...

Assessment item 2 Case Study and Report Due date: 19-08-2016 Length: 2000 words Task Question 1 (5%) Case: Battersby and Associates Chartered Accountants is a successful mid-t

INTANGIBLE ASSET, problems associated with intangible asset audit

problems associated with intangible asset audit

Value for money audits in the public sector, Problem 1: You have been a...

Problem 1: You have been asked to design a system of controls so as to prevent unauthorized payments being made from the bank account. You are required to identify the controls

Online real time systems, List the internal controls that should be in effe...

List the internal controls that should be in effect solely because a EDP system is employed, classifing them as (1) Those controls pertaining to input of information and (2) All ot

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd