Internal Audit

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Related to internal auditor: Certified Internal Auditor

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 ?
The effectiveness of IA lies in the auditors' ability to achieve established goals and objectives within the organization (Dittenhofer, 2001)However, Hodge (2012) mentioned that, many internal auditors have become dissatisfied in the jobs, which has led to a reduction in productivity within the organization and has decreased the levels of performance.
The present study aimed to investigate the relationship between uses of information technology in internal auditing by internal auditors Characteristics.
So the question arises, can internal auditors rely on the work performed by external auditors and at the same time ensure the integrity of the information?
b) The internal auditor may be given the role of a contact point for concerns to be raised;
"I enjoyed the rapport we developed during the meeting and wondered if there were other credit union internal auditors in Wisconsin.
* The internal auditor should be committed to professional standards of conduct.
In response to the expanded role of internal auditors, the Institute of Internal Auditors (IIA), the professional organization that sets standards for the work of internal auditors, underwent its own evolution.
The primary core characteristic is that the internal auditor reports directly to the head or the deputy head of the government agency, and that the internal auditor is in a staff role entirely independent of line or operational responsibilities and duties.
Incentive-based compensation of the internal audit function influences external auditors' determination of internal auditor objectivity and, accordingly, increases their assessment of risk, particularly when such bonuses are paid in stock and not cash.
In this context, he congratulated the internal auditors, urging them to dedication, effort and attitude.
They also noted that the increased internal auditor accountability that comes with greater transparency has the potential to increase internal auditor diligence.
When you want to prevent fraud before it happens, this is where the value of an internal auditor becomes necessary and relevant.

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