C. P. Mansoor S. Ahmed M. Com, PGDBA.  Not confined to Independent Audit  Systematic Examination of  Records  Procedures  Systems  Operations.

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Presentation transcript:

C. P. Mansoor S. Ahmed M. Com, PGDBA

 Not confined to Independent Audit  Systematic Examination of  Records  Procedures  Systems  Operations

 “Internal Auditing is an independent and an objective assurance and consulting activity designed to add value and improve an organization’s operation. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control & governance process.” IIA USA

 Risk Management & Control  Reliability & Integrity of Financial & Operational Information  Compliance with Laws, Regulations & Contracts  Safeguarding the Assets  Effectiveness & Efficiency of Operations  Accomplishments of Objectives & Goals for operation  Governance  Promoting Values & Ethics  Effective Organizational Performance Management & Accountability  Effectively Communicating Risk & Control Information to appropriate areas of organization  Effectively co-ordinating the activities of and communicating information among the board, external & internal auditor and management.

 Growth  Size  Operation  Location  Specialists  Records  Procedures  Systems  Operations

 Purpose, Authority and Responsibility  Planning  Policies and Procedures  Personal Management and Development  External Auditors  Quality Assurance

 Staffing  Knowledge, Skills and Disciplines  Supervision

 Planning the Audit  Examining & Evaluating Information  Communication Results  Appropriate Follow-up  Preparation of Audit Reports  Discussion and Follow-up of Reports  Reporting to Top Management

Honest, Diligent, Responsible Integrity Nothing that conflicts with the interest of the organization Objectivity Mis-use of information Confidentiality Subjected to professional expectancy Competency