Explain the role of internal auditors for financial auditing

Assignment Help Auditing
Reference no: EM131155632

Explain the role of internal auditors for financial auditing. How is it similar to and different from the role of external auditors?

Reference no: EM131155632

Questions Cloud

Cash flows and financial forecast : Assume you are planning to start a new business that will sell innovative consumer products via an online store. You will be pitching your idea to potential investors with the goal of securing funding. Your investors are very savvy and want to r..
What is the most recent reported revenue amount : What was Amazon.com cash balance at the end of the most recent reported year? What is the most recent reported Revenue amount? What were total assets, total liabilities and total equity in the most recent balance sheet
Iia international standards for the professional practice : What is the nature of the two categories of standards in the IIA International Standards for the Professional Practice of Auditing?
What is the relationship between inflation and interest rate : What is the relationship between inflation and interest rates? How time lag affect spending and saving decisions. Use an example of your choice to analyse the above statement.
Explain the role of internal auditors for financial auditing : Explain the role of internal auditors for financial auditing. How is it similar to and different from the role of external auditors?
Calculate henry''s law constant for this system : Critique the assumption that the exit streams are at equilibrium. Additional data: Henry's law constant for DMA at 25 °C is 1.84 bar.
The accounting and review services committee : The Accounting and Review Services Committee (ARSC) is responsible for issuing standards for compilations and reviews of financial statement issued by nonpublic companies. Visit the AICPA website (www.aicpa.org) and answer the following questions abo..
Explains recent economic growth or lack of growth in country : What explains the recent economic growth, or lack of growth in your country? What is the most recent inflation rate and does it compare to the inflation rate for the same year in the United States?
Search engine optimization plan : In addition to the e-Business Plan template under the Search Engine Optimization Plan section heading, add a Search Engine Optimization Plan of 4-5 pages that includes the following for the case study organization:

Reviews

Write a Review

Auditing Questions & Answers

  Recognize the types of input validation techniques for the

recognize the types of input validation techniques for the subsequent inputs to the payroll system. describe the

  Preparing government-wide financial statementscircus city

preparing government-wide financial statementscircus city issued an 8 10-year 2000000 bond to build a monorail mass

  What are the high-risk areas

What material types of transactions and transaction cycles are involved - What are the high-risk areas?

  Implications of auditor liability caps on auditing

Why this reversal has occurred and what are the implications for his firm - implications of auditor liability caps on auditing in general and for DCH.

  Performed analytical procedures on an annualised basis

This is the first year in which your firm has performed the audit. As part of the planning work, you have performed analytical procedures on an annualised basis and compared the results to industry averages and last year's audited financial inform..

  Compute the direct labor rate and labor efficiency variances

Compute price and usage variances for direct materials, compute the direct labor rate and labor efficiency variances and compute the fixed overhead spending and volume variances. Intercept the volume variance.

  What software package will you need to purchase

What software package will you need to purchase to complete the process? Provide arguments for your decision. What techniques should be run in Steps 4 and 5?

  Bond discounts-bond premiums

Explain how bond discounts and premiums usually arise. Describe how they are accounted for in the balance sheet and income statement.

  Reliability percentages for backup systems

What would be the reliability of the bank system below if each of the three components had a backup with a reliability of .80?

  Importance of the internal controls

Please explain the importance of the internal controls necessary to account for cash, purchases, and sales?

  Providing valuation services on complex financial instrument

The following relate to auditors, independence:

  Discuss possible alternative courses of action auditor have

Define actual and perceived independence, and explain the importance of each - discuss possible alternative courses of action the auditor should have taken in order to properly discharge their professional responsibilities

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