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What kind of audit are you talking about. Audit's are done all the time on insurance companies. The Department of Insurance audits insurance companies to make sure they have paid claims that they should and not pay claims that they shouldn't. Auditing and accounting firms audit the finances of insurance companies as most of them are publicly traded companies so the SEC also has to approve of their finances. Insurance companies are audited every year and all the time.
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What the Difference Between Internal Audit and Interim Audit?
An internal audit is conducted by an unbiased party within the company. An interim audit (which is an audit conducted before the end of the fiscal year) can be conducted by someone outside the company.
What are the advantages in having an audit committee?
the audit committee communicate with internal audit, external audit and CFO on behalf of the company.
Difference between internal and external audit?
An internal audit is done by the company itself. An external audit is done by auditors not under the influence of the company being audited.
Where can one purchase audit program?
You can hire a company to do an audit of your company such as the caclubindia website. Alternatively you could use the Deloitte company website or the Ernst & Young company website.
Provisions of the company act in audit?
The provision of the company act in audit requires that all the companies be audited after a given duration of time.
Do you have to comply with insurance audit?
I am an insurance agent in Texas, and I know from personal experience that you do not have to comply with an audit. However, the insurance company can cancel your policy for "noncompliance". This is because your premiums are based on information that is collected from you by your agent, then submitted on your initial application. The insurance company will later try to verify this information via an audit, in order to adjust premiums. Sometimes insurance agents put inaccurate numbers on the application in order to get a lower quote and sell the policy. Also, a company could end up doing much better than they expected and growing. In either of these scenarios, the risks associated with conducting that business are much higher than the insurance company thought they would be when they assigned a premium to your policy.
What the Difference Between Internal Audit and Interim Audit?
An internal audit is conducted by an unbiased party within the company. An interim audit (which is an audit conducted before the end of the fiscal year) can be conducted by someone outside the company.
What are the advantages in having an audit committee?
the audit committee communicate with internal audit, external audit and CFO on behalf of the company.
Difference between internal and external audit?
An internal audit is done by the company itself. An external audit is done by auditors not under the influence of the company being audited.
Where can one purchase audit program?
You can hire a company to do an audit of your company such as the caclubindia website. Alternatively you could use the Deloitte company website or the Ernst & Young company website.
Provisions of the company act in audit?
The provision of the company act in audit requires that all the companies be audited after a given duration of time.
Which audit can be performed by a company's accounting department on their information technology systems?
compliance audit
Where can I research Public Company Audit Fees?
You can find out information on public company audit fees on annual filings prepared by the public company and posted on SEDAR or EDGAR. Alternatively, you can visit theauditorsreport.com and research audit fee data there.
Distinguish between Internal External audit?
An internal audit is when someone within your company checks over your books. An external audit is when someone outside of your company checks your books; like the IRS.
What is commercial audit and how is it different from financial audit?
A financial audit looks into the legality of the financial statements of a given company. Commercial audits confirm that a company has the right to use the brands and products that it advertises.
Why would a company pursue a security audit?
There are many reasons why a company would pursue a security audit. One of the most common ones would be if the company feels that someone in the company's security team is leaking company information and has become a risk to the company. The security audit will determine the leak and the company will be able to remedy the situation.
Where can one purchase audit software for their company?
Extensive research has provided very little information as to where one can purchase audit software. Further research has found that there is a company called "Intelex" that provides audit software. One can apply for a free trial from their website. This company has provided audit software for companies such as Bell, GE and Volvo.
