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Describe How does the internal audit differ from an external audit?
Ans) Internal audit nothing but the checking the product that you formed.
External audit is checking your product by your customer. Here it means you may not search mistakes in your processes but a third man who comes and check the system he might see some deviations in the system and give suggestions for the improvements of the system..
All of the following must certify that a public company's financial statements are accurate, complete, and not misleading, except for the Chief financial officer. Director of human
Examples of Liabilities Examples of those liabilities are: a) Claims by employees for injury at work such should be covered through workman's compensation; b) Claims thr
Basic Elements of a Management Representation Letter Whenever requesting a management representation letter, such the auditor would request which it be addressed to the audi
Existence - Plant and Machinery However this should generally be checked through physical inspection, so a problem arises. Items of machinery and plant can be numerous mobile
What is public interest score. What is
four factors which influence the reliability of audit evidence
What is business risk and what controls should organizations have in place? Business Risk and Controls Business or operational risks related to the activities carried out
Q. Explain about Wash Sale? Wash Sale - A wash sale takes place if stock or securities are sold at a LOSS and seller acquires substantially identical stock or SECURITIES 30 day
Comparison of the Negative and Positive Methods Negative Method According to this method of circularisation, the customer is asked to communicate only when he does not ag
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 stateme
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