1 / 9

Internal Audit

C. P. Mansoor S. Ahmed M. Com, PGDBA. Internal Audit. Internal Audit. Not confined to Independent Audit Systematic Examination of Records Procedures Systems Operations. Definition.

luana
Download Presentation

Internal Audit

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. C. P. Mansoor S. Ahmed M. Com, PGDBA Internal Audit

  2. Internal Audit • Not confined to Independent Audit • Systematic Examination of • Records • Procedures • Systems • Operations

  3. Definition • “Internal Auditing is an independent and an objective assurance and consulting activity designed to add value and improve an organization’s operation. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control & governance process.” IIA USA

  4. Scope of Internal Audit • Risk Management & Control • Reliability & Integrity of Financial & Operational Information • Compliance with Laws, Regulations & Contracts • Safeguarding the Assets • Effectiveness & Efficiency of Operations • Accomplishments of Objectives & Goals for operation • Governance • Promoting Values & Ethics • Effective Organizational Performance Management & Accountability • Effectively Communicating Risk & Control Information to appropriate areas of organization • Effectively co-ordinating the activities of and communicating information among the board, external & internal auditor and management.

  5. Need for Internal Auditing • Growth • Size • Operation • Location • Specialists • Records • Procedures • Systems • Operations

  6. Operation of INTERNAL AUDIT • Purpose, Authority and Responsibility • Planning • Policies and Procedures • Personal Management and Development • External Auditors • Quality Assurance

  7. Professional Proficiency of Internal Audit Department • Staffing • Knowledge, Skills and Disciplines • Supervision

  8. Performing Audit Work • Planning the Audit • Examining & Evaluating Information • Communication Results • Appropriate Follow-up • Preparation of Audit Reports • Discussion and Follow-up of Reports • Reporting to Top Management

  9. Code of Ethics for Internal Auditors

More Related