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Benefits of Internal Audit are following:
It is in-expensive.
No charted accounted is needed to audit internally.
Faults will be removed before preparing financial statements.
There will not be any type of embarrassment in the society due to errors have been removed.
Accounting staff will remain in pressure so record will remain update every time in the company.
Drawbacks:
Internal audit is not acceptable by the shareholder.
There can be errors in internal audit because he is not an auditor and there are some more.
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Share Capital - Audit Process Share capital is a special type of liability and when it has been issued during the year then verification procedures are as follows: 1. Confirm
INDEPENDENT AUDITORS' REPORT Board of Directors Los Angeles County Fair Association Pomona, California We have audited the accompanying consolidated statements of financial posi
Factors Affecting and Controlling Occupational Health (i) Walking-Working Surface Workers must work or move on different surfaces while working. Such - surfaces are cha
Reliance on the Work of Other Auditors The principal auditor or the primary auditor is solely responsible for the holding company's accounts. So here it is inevitable but that
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