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Internal Audit |
Also found in: Financial, Acronyms, Wikipedia | 0.17 sec. |
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An inspection and verification of the financial records of a company or firm by a member of its own staff to determine the accuracy and acceptability of its accounting practices. |
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? References in periodicals archive |
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1 Establish an effective internal audit function that reports to the audit committee. The 2006 State of the Internal Audit Profession Study found 81% of the 392 companies surveyed about continuous auditing said they either had a continuous auditing or monitoring process in place, or were planning to develop one. One of the chief attributes of an effective CAE is the ability to attract and develop talent and build a high-quality staff, In many organizations internal audit is a source of management talent for other departments. |
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