Ch1 - Chapter 1: Foundations of Internal Auditing ACT 3642...

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Chapter 1: Foundations of Internal Auditing ACT 3642 1/2010 A.Phassawan S.
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Auditing: Business Auditors External Auditors Are chartered by regulatory authority; CPA To visit an enterprise or entity to review and independently report the results of that review. Focus on financial audit Internal Auditors Are employees or member of an enterprise. Independently review and assess operations in many areas Accounting office procedures/manufact uring quality process Focus on a boarder field
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What is Internal Auditing? Based on the professional standards of Institute of Internal Auditors (IIA)*, the internal auditing is defined as: “ an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization” *a major professional accounting organization, responsible for setting standards and providing guidance to the profession of internal auditing
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What is Internal Auditing?-Key terms Auditing
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Ch1 - Chapter 1: Foundations of Internal Auditing ACT 3642...

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