M3_internal audit

M3_internal audit - TheInternalAudit PurposeofInternalAudit

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The Internal Audit
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Purpose of Internal Audit To identify and evaluate what’s going on  inside the firm. To assess strengths and weaknesses. To make decisions about the future of  the organization.
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rategic Management amework
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The Relationships Between the Internal Audit, the External Audit and Competitive Advantage STRATEGY EXTERNAL AUDIT COMPETITIVE ADVANTAGE INTERNAL AUDIT RESOURCES TANGIBLE INTANGIBLE HUMAN Financial Physical Technology Reputation Culture Specialized skills and knowledge Communication & interactive abilities Motivation Suppliers Threat of New Entrants Rilvary among Competitors
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SWOT
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The Internal Audit Process Stage 1:  Assess Performance Stage 2:  Analyze Value Chain Activities Stage 3: Understand Core Competencies Stage 4: Determine Strengths and  Weaknesses
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Stage 1: Assessment of Performance weaknesses Source of information: financial reports customer and employee surveys and  interviews market share analyses market research studies internal staffing standards productivity reports
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Analysis of the Assessment Tools Trend Analysis Benchmarking Ratio Analysis
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Trend Analysis Trend Analysis is when you compare  financial  data from one period to another  period.Revenue Trends – Growth rates of revenues (overall, by region, by  business unit) Earnings Trends – Growth rates in profits (gross margin, operating  income, net income)  Stock Price Trends – Change in the value of the firm’s stock
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M3_internal audit - TheInternalAudit PurposeofInternalAudit

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