Whats come after audit
What to do after the audit?
Expert
i) Conduct an auditors meeting to converse the closing meeting content.
ii) Conduct a closing meeting with all auditees engaged with the audit. First, point out what was completed well. Second, address the nonconformance’s and makes sure the auditees comprehend the nonconformances and what division of the standard is not met.
iii) Issue the audit report in a timely way.
iv) Promote auditees to decide on the counteractive actions. Allowing auditees to have input will give them ownership in executing changes.
v) Aid those responsible for completing the counteractive actions with setting reasonable deadlines. The counteractive action deadlines might differ depending on the severity of the noncompliance.
vi) Be accessible and willing to aid the auditees.
vii) Ask for pointer on how you and your audit team were perceived - regulate your approach if essential.
A subgroup of the board of directors composed of directors who are independent of an organization and not employed by organization. The committee acts on behalf of the full board and all stockholders to check on management actions and it has responsibility for the soundness of the
A term usually referring to a financial audit is a set of procedures performed by accountants from a certified public accountant (CPA) firm. The procedures are designed to investigate and verify the accounting information that manage- ment puts in financial report. When the audit i
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
Write down the importance of Internal Audit?
1. A portfolio manager uses a T-bond futures contract to hedge a bond portfolio over the next 4 months. The portfolio is worth $75 million and will have duration of 5 years in four months. The futures price is 118 and each contract is for $200,000. There are three bon
How Does an Internal Audit vary From an External 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
What are the difference between Business versus Govt. versus NGO revenue versus Professional revenue?
Explain briefly statutory audit?
Marketing audit for goods and service industry: This basic concept of marketing audit applies to both material goods and service industry. The marketing audit is a powerful tool with banking industry throughout world. Banking world to
18,76,764
1930672 Asked
3,689
Active Tutors
1459559
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!