Why is ITF normally implemented by internal auditors rather than external au- ditors?
Question:
Why is ITF normally implemented by internal auditors rather than external au- ditors?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Auditing Concepts For A Changing Environment
ISBN: 9781284249286
5th Edition
Authors: Larry E. Rittenberg, Bradley J. Schwieger
Question Posted:
Students also viewed these Business questions
-
TLD CPAs is performing the audit of REDTOP Sports. You are on the external audit team for that engagement. Following is some information about the client and its internal audit function. After...
-
In February 1998, Steve Miller, the interim CEO of Waste Management, released his in-depth review of the company's audit practices. His findings stunned Wall Street: Waste Management, he announced,...
-
Weatherford International The oilfield services industry includes thousands of companies large and small that provide drilling, seismic testing, transportation, and a wide range of other services to...
-
#CCSEngage de-8/volume-of-spheres IXL Search topics and skills Learning Diagnostic Recommendations DIXLI Volume of spheres | 8th gra X aaaaas Eighth grade > T.14 Volume of spheres QX7 Submit 9 mm...
-
(a) In how many ways can one travel in the xy-plane from (1, 2) to (5, 9) if each move is one of the following types: (R): (x, y) (x + 1, y); (U): (x, y) (x, y + 1)? (b) Answer part (a) if a third...
-
Assume the following: The standard price per pound is $3.00. The actual quantity of materials purchased and used in production is 61,800 pounds. The actual purchase price per pound of materials was...
-
State and explain open-loop and closed-loop transfer function.
-
Never-Die Battery manufactures batteries for industrial and consumer use. The company purchased a commercial package policy (CPP) to cover its property exposures. In addition to common policy...
-
Do you consider important the classification of the new ideas, their review and evaluation, to take them into account in the planning of the action? Justify your answer.
-
Assume that an internal audit department develops an integrated test facility (ITF) for use in performing continuous audits of the organization's mortgage pro- cessing system. The ITF has been in use...
-
Briefly define the following communication controls, and describe how they work: a. Encryption b. Callback c. Echo check
-
It is better to recognize goodwill than to write up assets to their fair-market values. Do you agree? Why?
-
What ethical considerations and socio-economic implications arise from balancing human development and resource utilization with the conservation and sustainable management of biomes, particularly in...
-
On May 1, 2020, AWM Ltd. issued a series of bonds in order to raise money for some upcoming projects. The bonds had a face value of $5,426,000 and matured in 10 years. Interest was payable at a face...
-
3. On January 1, an investment fund was opened with an initial balance of 5000. Just after the balance grew to 5200 on July 1, an additional 2600 was deposited. The annual effective yield rate for...
-
Your client organization ( organization must be on the ARC campus: ASB,Links to an external site. SportsLinks to an external site. , Support ServicesLinks to an external site. ) has asked you to...
-
The term structures of discount factors prevailing Canada and the United Kingdom on September 11, 2023, are presented in the following table. On this date, the spot exchange rate is equal to GBP 1...
-
The air drag force on a car is 0.225 A V2. Assume air at 290 K, 100 kPa and a car frontal area of 4 m2 driving at 90 km/h. How much energy is used to overcome the air drag driving for 30 minutes?
-
Find the inverse, if it exists, for the matrix. -1
-
A family with a child who has limited mobility enrolls in your early childhood program. Explain three ways you will change/adapt the environment to ensure access and participation for this child, ADD...
-
Describe a place that you feel you are part of and that is a part of you (Zion national park US). How is this place special? what are some experiences you have had in this place? How does particular...
-
Read David Dunwood 1. Consider Dunwood's handling of the board's severance matter. How could he have prevented the challenging situation he faced? 2. Assuming Dunwood and the board have agreed on a...
Study smarter with the SolutionInn App