Internal Audit identifies all auditable activities and relevant risk factors, and assesses their significance through an annual risk assessment, utilizing the Committee of Sponsoring Organization's ...

A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

Accounts receivable are sales that are made but not yet paid for. They are actually a form of short-term unsecured credit extended on the basis of a customer's promise to pay. Terms are generally ...

Why is Auditing so Important? The food industry has seen unprecedented technological advancements, significantly enhancing operational efficiency and reducing costs. More importantly, these ...

For years, auditors have used interviews and workshops to conduct successful company assessments. As more businesses become digitised, auditors need to blend traditional techniques with a more ...

Internal and external audit systems provide companies with a method for testing internal controls, a process that can help detect or prevent fraud while making sure the company stays compliant, stops ...

From tax payers to human resources professionals, just about everyone cringes when they hear the “A” word. However, when employers spearhead their own audit of their company’s policies, procedures and ...

Annual Audit Plan – An annual audit plan is developed by the Director of Internal Audit based on a university-wide assessment of risk and where Internal Audit can make the greatest impact. Input from ...

Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...