The growing recognition by management of the benefits of good internal control and the complexities of an
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Question:
The growing recognition by management of the benefits of good internal control and the complexities of an adequate system of internal control have led to the development of internal auditing as a form of control over all other internal controls. The emergence of internal auditors as experts in internal control is the result of an evolutionary process similar in many ways to the evolution of external auditing.
Required
- Explain why the internal and independent external auditors' review of internal control procedures differ in purpose.
- Explain the reasons why internal auditors should or should not report their findings on internal control to the following company officials:
- The board of directors
- The chief accountant
Related Book For
International marketing
ISBN: 978-0077446956
15th Edition
Authors: Philip R. Cateora, Mary C. Gilly, John L. Graham
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