Month: January 2018

BENEFITS OF INTERNAL AUDIT | LIMITATIONS OF INTERNAL AUDIT

BENEFITS OF INTERNAL AUDIT | LIMITATIONS OF INTERNAL AUDIT

What are benefits of Internal Audit? As we know that internal audit includes, amongst other things, examining, evaluating and monitoring the adequacy and effectiveness of the accounting and internal control systems. The various benefits of internal audit are discussed as below;- BENEFITS OF INTERNAL AUDIT The important benefits of internal audit are as under;- 1. PROPER ACCOUNTING…

By Free Online Notes January 29, 2018 Off

FUNCTIONS OF INTERNAL AUDIT | IMPORTANT FUNCTIONS

FUNCTIONS OF INTERNAL AUDIT | IMPORTANT FUNCTIONS

What are the functions of Internal Audit? As we know that internal auditing is an appraisal activity established within an entity as a service to the entity. Although there are main objectives of Internal audit but there are various functions of internal audit which are discussed below. FUNCTIONS OF INTERNAL AUDIT The main functions of Internal…

By Free Online Notes January 29, 2018 Off

COMPONENTS OF INTERNAL CONTROL | TECHNIQUES OF INTERNAL CONTROL

COMPONENTS OF INTERNAL CONTROL | TECHNIQUES OF INTERNAL CONTROL

What are the components of internal control? As we know that that internal controls are procedures that ensure that transactions are recorded properly and everything is working as per management policies and plans. Let’s discuss in detail various components of Internal Control. COMPONENTS OF INTERNAL CONTROL          The various components of internal control are as under;-…

By Free Online Notes January 28, 2018 Off