Differences between internal and external audit

Assignment Help Financial Management

Reference no: EM133127791

FINANCIAL MANAGEMENT

Question 1: Explain briefly the main differences between internal and external audit.

Give three examples of a significant Internal Control Weakness in the purchasing area of a large manufacturing organisation, explaining their importance and suggesting how they might be remedied.

Question 2

Why is it important to provide for depreciation of fixed assets when measuring financial performance?

Explain the difference between the Straight-Line Method and the Reducing Balance Method of depreciation, illustrating briefly the impact of each method would have on annual profits over a given period of years.

Reference no: EM133127791

Questions Cloud

Traditional retailers and e-commerce retailers : What are some major differences in supply chain management between traditional retailers and e-commerce retailers?

Discuss the main hr issues facing organisations : Critically present and discuss the main HR issues facing organisations at the present time and critically discuss how these can be addressed by HR departments

By failing to prepare you are preparing to fail : Benjamin Franklin once quoted, "By failing to prepare, you are preparing to fail."

Project management tools-defining-planning and controlling : Apply project management tools and a PM outline type of your choice to structure and plan the project by defining, planning, and controlling.

Differences between internal and external audit : Explain the difference between the Straight-Line Method and the Reducing Balance Method of depreciation, illustrating briefly the impact of each method would

Discrete Matlab Filter Implementation : Discrete Matlab Filter Implementation - Make sure that you use good programming practice by suitably commenting

Develop strategic plan to create new small business : Develop a strategic plan to create a new small business.

Covid-19 impacted organizational behavior : What has been your experience with organizational behavior? How has COVID-19 impacted organizational behavior?

Laws and regulations impact global trade : How can small businesses take advantage of globalization opportunities? How can laws and regulations impact global trade?

User Account

All Pages