Distinguish between internal audit and internal control.
Internal control systems are control procedures put in place by the management of an organisation to ensure efficient and effective operation of her activities, so as to meet the organisation's objectives.
finacial systems
Internal control serve as alert systems for businesses. Once they have established triggers, they can operate their business knowing they won't have too many mistakes with internal controls in place.
Because they will abuse the systems an loopholes because they can.
For the following 3 reasons, I would like to work as an internal auditor: 1. I have 3 years audit experience in KPMG. It would be very helpful to build up my career in an internal audit department of an organization; 2. It seems to me that I am awarded when the management changes or places control systems on the basis of my recommendation of findings; 3. The privileged insight we have into all company's dealings, functions, teams, systems and processes. Internal Audit is like a window to the entire organisation and provides us with a unique opportunity to understand and work collaboratively with the business. Also, the multitude of people we interact with and the diversity of project we are involved in.
ØInternal control •Allows motivated individuals and groups to exercise self-discipline in fulfilling job expectations. ØExternal control •Occurs through personal supervision and the use of formal administrative systems.
Internal control systems are control procedures put in place by the management of an organisation to ensure efficient and effective operation of her activities, so as to meet the organisation's objectives.
explain the difference between systems and sub systems
finacial systems
Sharks dont have internal systems, they just have air between thier body.
Internal control serve as alert systems for businesses. Once they have established triggers, they can operate their business knowing they won't have too many mistakes with internal controls in place.
the difference between end user system and organisational system
no answer
Internal control would be judged as effective if its components are present and function effectively for operations, financial reporting, and compliance.
internal control systems
The RH terminal on a thermostat is for heating systems, while the RC terminal is for cooling systems. They are separate to control each system independently.
The two systems that control homeostasis in the body are the nervous system and the endocrine system. The nervous system helps to detect changes in the internal and external environment, while the endocrine system releases hormones to regulate and maintain a stable internal environment.