Explain the term vouching
Briefly explain the term vouching ?
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Vouching is the procedure of checking the substantiation of the voucher maintain by the management with the respective supporting document.
Write down the different merits and demerits of internal audit?
Operational Audits: It is a review of how an organization's management and its operating events are functioning with respect to their efficacy and efficiency in meeting stated objectives. For illustration, a business might execute an operational audit
Distinguish between Operating versus Non-Operating Revenue?
Auditing: Auditing is the systematic procedure of objectively obtaining and estimating evidence regarding assertions concerning economic actions and actions to ascertain the degree of correspondence among those assertions and established criteria and
From the case description and the associated flowcharts, assess Bradmark’s internal controls over its expenditure cycle procedures.
Write down the main Objectives of Internal Audit?
Case must be analyzed and reports run using ACL 9 desktop software (Education Edition). Screenprints of reports should be included and explained. All work must be cited.
The length of the writing / reportmust not exceed 1000 words. Words in Bibliography or Reference Lists section are not included in the word count. 3 marks will be given for the contents (sources and understanding of industry and able to link audit objectives with findings); 1 mark will be given ba
find the flowchart to the bradmark sales order and cash
How does the internal audit vary from an external audit?
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