Different functions of internal audit, Auditing

Assignment Help:

The function of internal audit is concerned with analysis of internal check. The internal audit can look into the duties of every employee. All employees are given jobs on the basis of their abilities. The auditor can test the effectiveness of internal check. The function of internal audit is examining the application of legal requirements.


The accounts are prepared under particular legal frame work. Verification of accuracy is a function of internal audit. The accuracy of accounting books and records can be verified with the help auditing techniques. The audit techniques have inspection, observation, inquiry, confirmation, computation and review. An auditor can check the accuracy by these techniques.

 


Related Discussions:- Different functions of internal audit

Audit procedures for obtaining audit evidence, Question: Part A (i...

Question: Part A (i) List and define five audit procedures for obtaining audit evidence. (ii) Why is it necessary to obtain corroborating evidence for inquiry and obser

Internal control, Ask question #MA. Evaluate the strengths and weaknesses o...

Ask question #MA. Evaluate the strengths and weaknesses of preview Company''s control environment B. What factors in Preview company''s control environment have led to and facilit

Audit procedures for obtaining audit evidence, AsList and define five audit...

AsList and define five audit procedures for obtaining audit evidence. (ii) Why is it necessary to obtain corroborating evidence for inquiry and observation? (iii) What is the dif

Audit procedures on investment, describe how the auditors would determine t...

describe how the auditors would determine that all investments income from shares had been properly recorded in the accounting records

Advocates - specialized audit situation, Advocates - Specialized audit Situ...

Advocates - Specialized audit Situation The statutory provisions regulating the handling of client's monies are covered in the advocate's act. Reason of the rules:

Bank - cash and bank balances, Bank - Cash and Bank Balances The major...

Bank - Cash and Bank Balances The major concern in this area is to establish the existence of the balances and more currently due to failures in some financial institutions in

Operational auditing, phases of operational auditing report sample or templ...

phases of operational auditing report sample or template of companies operational audit report

Fitri, The following situations involve a possible violation of the MIA ByL...

The following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code has b

Test clerical accuracy of inventory listing, You have been assigned to carr...

You have been assigned to carry out a stock take in a company. Your Audit Supervisor has given you with an audit programme. As part of a briefing session to your juniors, you a

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