Provide an example of where Internal Audit can validate the business readiness?

Expert Solution

Internal audit objects assurance and consulting activity fod improvement of an organisation

It helps an organisation to accomplish its objectives by bringing a systematic displined approach and improve effectiveness in management

Internal audit provide rules to govern bodies

Its scope is within an organisation

Internal auditor advice management and board of directors for better results.

It works for government agencies, for publicly traded companies , for non profit organisation etc

We can explain its working with and example below

Area where internal audit should be focused in technology companies are as follows

1. Mergers and acquisitions of company

2. Use of data in proper way

3. New accounting standard are followed or not

4. Framework for global compliance

5. Research and development efficiency

6. Business management for continuing

Hence, we can say that internal audit is very important at each of the stages of an organisation

Foe this internal auditor are appointed who are qualified by ICAI and ICWA.

ekkarill92 answered 2 years ago

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