What does the internal audit plan not cover

Assignment Help Accounting Basics

Reference no: EM132505756

Question 1: Should we have an internal audit function?

Question 2: What should our internal audit function do?

Question 3: What should be the mandate of the internal audit function?

Question 4: What is the relationship between internal audit and the audit committee?

Question 5: To whom does internal audit report administratively?

Question 6: How is the internal audit function staffed?

Question 7: How does internal audit get and maintain the expertise it needs to conduct its assignments?

Question 8: Are the activities of internal audit appropriately coordinated with those of the external auditors?

Question 9: How is the internal audit plan developed?

Question 10: What does the internal audit plan not cover?

Question 11: How are internal audit findings reported?

Question 12: How are corporate managers required to respond to internal audit findings and recommendations?

Question 13: What services does internal audit provide in connection with fraud?

Question 14: How do you assess the effectiveness of your internal audit function?

Question 15: Does internal audit have sufficient resources?

Question 16: Does the internal audit function get appropriate support from the CEO and senior management team?

Question 17: Are you satisfied that this organization has adequate internal controls over its major risks?

Question 18: Are there any other matters that you wish to bring to the audit committee's attention?

Question 19: Are there other ways in which internal audit and the audit committee could support each other?

Question 20: Are we (the audit committee) satisfied with our internal audit function?

Reference no: EM132505756

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