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What are the methods and procedures used in procurement?
There are many methods and procedures in procurement. Some of these methods and procedures include open tendering, restricted tendering, two page tendering, and request for proposals.
What are some areas of a project you would audit?
One of the areas of a project that can be audited regards finances or accounting. Another important area to audit is procurement.
What is the Difference between HR audit And Financial Audit?
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
What procedures need to be done after a safety audit is complete?
No
How do you audit share based payments and special purposes entities?
examples of audit procedures for share based options
The impact of internal audit on organization?
Internal audit reveals to management whether internal control procedures are duly followed or not.
Audit procedure for letter of credit?
The audit procedure for letter of credit ensures the compliance of sanctions and post sanction procedures.
What is a surveillance audit?
A survelliance audit is a process where current procedures are checked and verified against the company's quality management system.
What is audit procedures?
Audit procedure is the process followed while auditing an entity which may include:Confirm the audit assignmentComplete appropriate planningExecute actual internal audit workDevelop a report
What is audit client screening and what are audit client screening procedures?
During an audit, a client may be screened before the actual audit to inform them of what will take place. This is a time to give them information on what to bring and answer questions.
What is the purpose of an internal audit?
Main purpose of internal audit is to establish internal control system as well as procedures which ensures that all departments works as per policies and procedures established by management of business as well as to help external auditors in conducting external audit.
What are analytical procedures?
Analytical procedures are "one of many financial audit processes which help an auditor understand the client's business and changes in the business, and to identify potential risk areas to plan other audit procedures." So essentially these are the procedures that an auditor goes through to look at risks within the business.
