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I. AUDITING II. AUDITING AS MANAGEMENT TOOL III.SCOPE & FUNCTION IV. FEATURE V. AUDIT EXECUTION VI. AUDIT REVIEW VII.PROVIDE
TAX AUDIT REVENUE AUDIT
INTERNAL AUDIT STOCK AUDIT INFORMATION SYSTEM AUDIT MANAGEMENT AUDIT
CONCLUTION
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Anexaminationandverificationof a
company's financialandaccountingrecordsandsupporting docume by aprofessional
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The concept of Internal Audit hasdrastically changed from a system of checking the arithmetical accuracy of
accounting data as in former days to asystem of appraisal of the effectivene
accounting, financial and other operatand controls as an aid to Management
achieve its goals of maximizing produ
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It is meant to be an effective means for the rapid and simultaneous observationof multiple events and transient situation
which, properly assembled, can give a reliable guide to the well-being of an
organization, an advance warning of undesirable trends and an indication of
corrective action.
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The purpose of this form of control is to
assure early detection and rectification oerrors to minimize their recurrence in fut
to achieve economy in expenditure and around efficiency. It ensures that various rand procedures laid down by the Manageare actually followed and acted upon by
the cost centers.
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Features
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Audit Execution:
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Tax Audits
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Income Tax, Corporation Taxor Capital Gains Tax returnsand/orThe returns submitted inrespect of VAT, PAYE/PRSI orRelevant Contracts Tax (RCT).
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Internal auditing is an independent,objective assurance and consultingactivity designed to add value and
improve an organization'soperations. It helps an organizationaccomplish its objectives bybringing a systematic, disciplinedapproach to evaluate and improvethe effectiveness of riskmanagement, control, andgovernance processes.
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a Stock Audit is a term which is generallyused in manufacturing industries where inraw material purchased is converted in to
finished goods. It is important from theperspective of having vigil over thequantity and quality of raw materialsremaining in stores as more than 70% of product cost involves material cost. So, tomonitor the purchase, store and issue of materials a stock audit is done.
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An information technology audit, orinformation systems audit, is an examination of the management controls within an Informationtechnology (IT) infrastructure. The evaluation of
obtained evidence determines if theinformation systems are safeguarding assets,maintaining data integrity, and operatingeffectively to achieve the organization's goals
or objectives. These reviews may be performedin conjunction with a financial statement audit,internal audit, or other form of attestationengagement.
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Audit management is responsible for ensuringthat board-approved audit directives areimplemented.
Audit management oversees the internal/externalaudit staff, establishes audit programs, and hiresand trains the appropriate audit personnel. Thestaff should have the necessary skills and
expertise to identify inherent risks of the businessand assess the overall effectiveness of controls inplace relating to the company's internal controls.
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Auditing is a management tool used toverify that systems and processes arecompliant/conformant, effective, andcontinually improved. The process auditdetermines if process requirements(methods, procedures) are being met,while a system audit determines if systemrequirements (manual, policy, standards,regulations) are being met. This best-
selling handbook is now revised and fullyupdated, organized to correspond exactlywith the ASQ Certified Quality Auditor(CQA) Body of Knowledge (BooK
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It provides comprehensive coveragefor nearly every aspect of the auditfunction. Though a valuable resourcefor studying for the CQA examination,it is also meant to be the single sourcefor quality, environmental, safety andhealth auditors, audit managers, auditteams, and other professionals in the
field.
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The auditing handbook is designed toprovide practical guidance for system andprocess auditors. Practitioners in the fieldhave provided content, example auditsituations, stories, and review commentsas the handbook evolved. New to this thirdedition are topics such as auditorcompetency, business applications, andimprovement tools. Additionally, existing
topics have been expanded to encompassprocess methods, process basedmanagement systems, and ISO 19011guidance.
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The handbook has been refocused topromote the common elements of alltypes of system and process audits(quality, environmental, safety, and
health), and covers the latest auditingterminology and communicationtechnology. The appendixes includeexample forms and an example guide for
when technical specialists (subject matterexperts) are needed on the audit team.