Can Anyone Explain Objectives Of Internal Audit?


3 Answers

Amen Bukhari Profile
Amen Bukhari answered
The purpose of internal audit is to keep proper control over business activities. When there is proper control there is maximum efficiency. The internal auditor determines the degrees of control over work. The purpose of internal audit is to evaluate the accounting system. It is concerned with checking proper authority for transactions like purchase, retirement and disposal of fixed assets. The vouchers can be compared with entries in order to determine that figures are facts.

The purpose of internal audit is to help the management. Internal auditor can point out the weakness. The internal audit can be used as a tool to correct the situation. The management functions can be performed properly. The purpose of internal audit is to review the working of business. The working of current tear can be reviewed in detail just to note the successful area of working. There is a need to locate the weak points. The corrective measures can be taken for proper working.

The purpose of internal audit is to protect the assets. The proper record of assets must be there. The valuation, verification and possession can be examined by internal auditor. The purchases and sale of assets must be made under proper authority.
Aisha Profile
Aisha answered
Internal audit is an independent appraisal function which is established by the management of an organisation for the review of its internal control system as a service to the organisation. To leaarn about the scope of internal audit, here is thier official link which will help you out. click here

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