A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

To define the purpose, authority and responsibilities of the Internal Audit Office and establish the principles and framework that govern it. 2. Objectives and Scope The Internal Auditor 1 is ...

With the exception of audits that require no prior notification to be effective, such as cash counts, the units are contacted shortly before the start of any audit. An entrance conference is held to ...

Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

Academic research in internal audit provides best practices and pertinent information for external and internal auditors. Below, we summarize recent internal audit research from leading academic ...

The sales and collections cycle in a business refers to the set of processes that begin when a customer purchases goods or services and ends when your business receives payment in full. As part of the ...

Western Illinois University supports an Internal Auditing Department as an administrative staff function and as an independent appraisal function to examine and evaluate University business or ...

Matt Danielsson has 21+ years of writing experience and 7+ years as a financial advisor. He is the founder of Danielsson Enterprise. Matelly / Getty Images Internal auditors ensure that companies ...