what is internal audit?
- 10 Answers
- 10775 Views
- Aviation, CTS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / amitesh srivastava
Internal Audit is an audit that an organization carries out
on its own behalf, normally to ensure that its own internal
controls are operating satisfactorily.
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / anshul gupta
internal audit is an independent appraisal activity within
an organisation for the review of accountany,financial and
other operations as a basis for service to the management.
It is a managerial control which functions by evaluating
and measuring the efficiency and effectiveness of other
controls.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / syedwaseem
Internal Audit is an audit which an organization carries
out
on its own behalf, normally to ensure that its own internal
controls are operating satisfactorily.
eg:risk management, facilities managemeny, public sector,
buisness planning, financial management
| Is This Answer Correct ? | 4 Yes | 3 No |
Answer / ankit
Internal Audit not only encopasses checking matter relating
to pure finance, but also reviews and undertakes a critical
appraisal of the policies and procedures of the company. It
helps in maximizing organizational effectiveness.
| Is This Answer Correct ? | 1 Yes | 1 No |
In my opnion internal audit nay be the activity through
which you assess the intenal control of your system
devloped by you in order to improve your system weakness if
any.This can be performed by an chartred accountant firm or
management can set his own indepdent Team reportable to
managemnt only.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sindujaramkumar
internal audit is a type of audit which is done through out
the year by an auditor appointed by the company internally
and the auditor verify the accounts then and there.
| Is This Answer Correct ? | 5 Yes | 6 No |
Answer / lalitha
Internal Audit is conducted within the organisation to find
and detect defaults,mistakes in accounting.It can be done
at any time .
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / bhushan
internal audit is appraising the financial health of the operations of an organization. auditing made by it internal auditor
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / srisri
An audit performed by a person (or persons) employed by the firm being audited.
| Is This Answer Correct ? | 0 Yes | 2 No |
what is your achivements while conducting articleship during your training period in chartered accountancy course
1 Answers Price Waterhouse Coopers,
credit purchases
accounting seation and taxation caluation
what is suspense capital a/c? when this type of account will be opened in the books of accounts?
what is the difference between cash discount and trade discount. what is the journal entry for purchase of 100000 giving (a) 5% trade discount (b) 5% cash discount.
Would you consider alternative vacancies if so which:
What is the difference between amalgamation, absorption, liquidation ? Why realisation account is being prepared ?
WHAT IS DIFFERENCE BETWEEN TAX AUDIT AND STATUTORY AUDIT?
what is cenvat credit&audit
What is the diffrentm between internal & external audit?
1.How do you effectively solve Accounts problems 2. What was the most demanding / stressful situation that you have handled in your current capacity (Accountant):
internal checksystem
Audit 
