Internal Audit

(redirected from Internal Audits)
Also found in: Medical, Financial.

Internal Audit

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.

References in periodicals archive ?
It comes as a surprise to know that allocating funds through SDA mandates no internal audit. In any organization, internal audit activity helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and government processes.
Award: Jacob Flournoy, internal audit director for the University of Arkansas System, has been selected to receive the American Institute of CPAs' Outstanding CPA in Government Impact Award for impact on state government.
As companies have come to accept that market volatility, complexity, political and regulatory changes are here to stay, internal audit functions have more opportunities to contribute to businesses in a truly meaningful way, according to the PwC Internal Audit State of the Profession 2013 survey.
Written for managers, internal audit coordinators and internal auditors, this guide to ISO 9001 requirements is designed to help companies pass the registration audit in a more efficient and cost-effective manner.
* Ensure that the Office of Internal Auditing's annual internal audit plan identifies the internal audits of state agencies or divisions of those agencies scheduled for the next fiscal year
Part Two, "Administering Internal Audit Activities," explains how the internal audit function can be of greatest value to all levels of an entity It stresses the independent nature of the function and how this is reinforced when internal auditors report to the audit committee of an organization's board of directors or trustees.
For off-site monitoring purposes, the Superintendency requires extensive reporting from the institutions it supervises, including daily, monthly, quarterly, and semiannual data covering, among other matters, consolidated financial condition, liquidity, capital adequacy, internal audit findings, and transactions with affiliates and related parties.
On this occasion Chief Controller of Accounts (CCA), Ministry of Rural development informed that the Internal Audit Wing of ministry with its limited recourses has completed 143 internal audits till February this year with the help of IT portal unique to this Ministry named as GRIP.
ISO 9001:2015 Internal Audits Made Easy: Tools, Techniques, and Step-by-Step Guidelines for Successful Internal Audits, 4th Edition (CD-ROM included)
It is key to note that the SIC were already part of the Motorola culture and the basis for internal audits. The reissued controls, which incorporated COSO, were not just another management fad or a new level of bureaucracy.