How does the internal audit function assist the organization in maintaining effective controls?
Question:
How does the internal audit function assist the organization in maintaining effective controls?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (5 reviews)
The internal audit function plays a crucial role in assisting an organization in maintaining effective controls by providing independent and objective ...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Internal Auditing Assurance & Advisory Services
ISBN: 9780894139871
4th Edition
Authors: Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Cris Riddle, Mark Salamasick, Paul J. Sobel
Question Posted:
Students also viewed these Business questions
-
Research various global financial services organizations (for example, UBS AG, E-Trade, Schwab, ING, Bank of America, HSBC, RBS) through their company websites and other publicly available...
-
COSO is quoted in this chapter as follows: internal auditors provide assurance and advisory support to management on internal controlthe internal audit function includes evaluating the adequacy and...
-
Multiple Choices Questions 1. Which of the following would be considered a significant deficiency in an organization's control environment? a. The internal audit function is outsourced to a public...
-
You are looking to help a small municipality finance their drinking water treatment facility with the installation of UV (ultraviolet) disinfection. The total cost of the project is estimated to be...
-
The Department of Homeland Security conducted a bottom-up review (BUR) in conjunction with the Quadrennial Homeland Security Review (QHSR) to determine the status of Americas homeland security...
-
A rigid tank contains 2 kg of air at 200 kPa and ambient temperature, 20C. An electric current now passes through a resistor inside the tank. After a total of 100 kJ of electrical work has crossed...
-
The speed of a driving shaft is \(80 \mathrm{rpm}\) and the speed of the driven shaft is \(120 \mathrm{rpm}\). The diameter of the driving pulley is given as \(600 \mathrm{~mm}\). Find the diameter...
-
Suppose that you are the auditor of a major retail client who has reported the following income before taxes (IBT) for the first two quarters of the year: 1st quarter = $1,200,000 and 2nd quarter =...
-
How did the United States shift from a nation of agrarian farmers to an industrial powerhouse during the late 19th and early 20th centuries?
-
Why is it important for an internal audit function to have an effective quality assurance and improvement program? What aspects of an internal audit function should a quality program assessment cover?
-
According to The IIA, how does an internal audit function determine whether risk management processes are effective?
-
Richard Ushers home was protected by a home owners policy issued by National American Insurance Company of California. The policy included personal liability insurance. A provision in the policy...
-
Mark O. Sleuth, a recent accounting graduate, has been assigned to research several local governmental accounting and financial reporting issues. For each issue, rank the sources of guidance...
-
Why is the social information-processing approach referred to as a situational view of attitudes?
-
Explain the theory of planned behaviour.
-
Examine the methods for measuring attitudes.
-
What is the alternative view to cognitive dissonance?
-
The United States Department of Agriculture (USDA) reports that, under its standard inspection system, one in every 100 slaughtered chickens passes inspection with fecal contamination (Tampa Tribune,...
-
Discrete sample spaces: suppose there are N cable cars in San Francisco, numbered sequentially from 1 to N. You see a cable car at random; it is numbered 203. You wish to estimate N. (See Goodman,...
-
Office space is often rented without carpet, wall covering, or window covering. Furthermore, many rental agreements specify that these improvements cannot be removed by a tenant if removal causes any...
-
Does the fact that an item of income is paid in a form other than cash mean it is nontaxable? Explain.
-
Explain the significance of Lucas v. Earl and Helvering v. Horst.
-
Horizon Manufacturing provides you with the following information for the most recent month of operations: Units in beginning inventory 0 Units produced 3,000 Units sold 2,500 Selling price $150 per...
-
Pops Burger Heaven produces and sells quarter-pound hamburgers. Each burger sells for $1.50. During December, Pops sold 10,000 burgers (the average amount sold each month). The restaurant employs...
-
Performance Products Corporation makes two products, Titanium Rims and Posts. Data regarding the two products is provided in the following table: Direct Labor Hours per Unit Annual Production Rims...
Study smarter with the SolutionInn App