Importance of internal audit to the organization
Write down the importance of internal audit to the organization?
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An audit aids keep track of where the money is going and ensures the money is going where it is supposed to and not in someone's pocket. An audit can also aid a company know if it is making or losing more money.
Audit Management: It is a systematic assessment of processes and policies of an organization's management in the administration and the utilization of resources, tactical & strategic planning, and employee and organizational enhancement.
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Marketing Audit: One of the most fundamental parts of marketing planning process is marketing audit. It is conducted both at the beginning of the process and also in between the series of points during the implementation of plan. Both internal and ext
Elucidate the differentiation between External Audit and Internal Audit?
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
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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
A signed letter from the auditor of a company, included in the annual report, that state whether or not the finan- cial statements fairly present the results of operations and the financial position of the company. An annual audit is required by the Exchange and Securities Commissi
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