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An audit ensures that a business is following the standard rules and regulations imposed on it. A hospital audit makes sure that the hospital isn't placing patient's lives at risk.
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What are the objectives of an environmental audit?
the objectives of an env audit is to ensure that there are minimal environmental impacts on the environment,also to ensure that a company or organisation complies with stated environmental laws and regulationns,and to ensure that resources are well utilized
Scope and objectives of audit?
The scope is what you are going to cover such as time period and departments. Objectives is what you are trying to achieve. Example: check for compliance with state regulations.AnswerScope and objectives of audit Answer:1. An unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm).2. An IRS examination of a taxpayer's return or other transactions. The IRS performs this examination to verify the accuracy of these filings.SCOPE:Scope of audit means the audit procedures deemed necessary to achieve the objective of an audit.OBJECTIVE:The objective of an audit of financial statements is to 'enable the auditor to express an opinion' whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework.
What is an audit program?
AUDIT PROGRAM COMPONENTSI. Audit Objective Development of the Audit Objectivea) Departmental objectives: Why was the department created?b) Control requirements: What controls are in place in the department to ensure its objectives are met?c) Audit Objective: Why are we auditing this department? Should be a combination of departmental objectives and control requirements.To ensure….To determine…II. Audit ScopeWhat is the Audit Scopea) Establishes parameters or boundaries for the audit b) Identifies:· Area to be audited (department or function)· Timeframe· Sample size (volume or dollars)III. Audit Program StepsGuidelines for Preparing Audit Programsa) Review audit program, if any, from prior audit. Determine what was covered, how it was covered, in what depth and with what results. b) Perform a preliminary survey to determine objectives of the operations, existing systems of internal control and apparent risks.c) Review internal audit literature which addresses the operation to be reviewed and may provide guidance to conducting the audit.d) The objectives of the operation under review should be carefully stated and agreed to by the client.e) Programs should be tailor-made to the audit assignment unless compelling reasons dictate otherwise.f) Work steps should include positive and clear instructions. They should not be stated in the form of questions.g) If possible, the audit program should indicate the relative priority of the work steps. Thus, the more important parts of the program will be completed in the allotted time.h) Audit programs should be flexible and permit the use of initiative and sound judgment in deviating from prescribed procedures. Audit supervisors should be informed promptly of major deviations.i) Programs should not be cluttered with material from sources readily available to the staff. Incorporate by reference, where feasible.j) Unnecessary information should be avoided. Include only what is needed to perform the audit work. Excessive detail wastes the time of those who prepare and read the programs.k) Audit programs should bear evidence of supervisory approval before they are carried out. Significant changes should also be approved in advance.
What is a social audit?
Social Audit is basically a process through which organizations are enabled to assess and demonstrate the social, economic and environmental limitations and benefit for itself. This process helps in measuring the extent to which organizations hold to their shared values and objectives. In other words, a social audit is a review of a business' social responsiveness.
Difference between audit plan and audit program?
an audit program may contain several audit plans
How is the scope of an audit established?
It is established by determining the boundaries for the engagement and should reflect the audit objectives
What are the objectives of an environmental audit?
the objectives of an env audit is to ensure that there are minimal environmental impacts on the environment,also to ensure that a company or organisation complies with stated environmental laws and regulationns,and to ensure that resources are well utilized
What has the author William Acar written?
William Acar has written: 'The organizational audit and analysis' -- subject(s): Management audit, Management by objectives
Objectives and importance of management audit?
In today business world management play very important role for the success of failure of business. Management is the life blood of every organization. So if organization want to gain competitive advantage then it should improve their management efficiency and effectiveness. Followings are the objectives of management audit: Review of policies review of procedures review of methods performance appraisal job rotation Depend upon auditor mind or purpose of management audit
Scope and objectives of audit?
The scope is what you are going to cover such as time period and departments. Objectives is what you are trying to achieve. Example: check for compliance with state regulations.AnswerScope and objectives of audit Answer:1. An unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm).2. An IRS examination of a taxpayer's return or other transactions. The IRS performs this examination to verify the accuracy of these filings.SCOPE:Scope of audit means the audit procedures deemed necessary to achieve the objective of an audit.OBJECTIVE:The objective of an audit of financial statements is to 'enable the auditor to express an opinion' whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework.
What is an audit program?
AUDIT PROGRAM COMPONENTSI. Audit Objective Development of the Audit Objectivea) Departmental objectives: Why was the department created?b) Control requirements: What controls are in place in the department to ensure its objectives are met?c) Audit Objective: Why are we auditing this department? Should be a combination of departmental objectives and control requirements.To ensure….To determine…II. Audit ScopeWhat is the Audit Scopea) Establishes parameters or boundaries for the audit b) Identifies:· Area to be audited (department or function)· Timeframe· Sample size (volume or dollars)III. Audit Program StepsGuidelines for Preparing Audit Programsa) Review audit program, if any, from prior audit. Determine what was covered, how it was covered, in what depth and with what results. b) Perform a preliminary survey to determine objectives of the operations, existing systems of internal control and apparent risks.c) Review internal audit literature which addresses the operation to be reviewed and may provide guidance to conducting the audit.d) The objectives of the operation under review should be carefully stated and agreed to by the client.e) Programs should be tailor-made to the audit assignment unless compelling reasons dictate otherwise.f) Work steps should include positive and clear instructions. They should not be stated in the form of questions.g) If possible, the audit program should indicate the relative priority of the work steps. Thus, the more important parts of the program will be completed in the allotted time.h) Audit programs should be flexible and permit the use of initiative and sound judgment in deviating from prescribed procedures. Audit supervisors should be informed promptly of major deviations.i) Programs should not be cluttered with material from sources readily available to the staff. Incorporate by reference, where feasible.j) Unnecessary information should be avoided. Include only what is needed to perform the audit work. Excessive detail wastes the time of those who prepare and read the programs.k) Audit programs should bear evidence of supervisory approval before they are carried out. Significant changes should also be approved in advance.
What is auditing program?
AUDIT PROGRAM COMPONENTSI. Audit Objective Development of the Audit Objectivea) Departmental objectives: Why was the department created?b) Control requirements: What controls are in place in the department to ensure its objectives are met?c) Audit Objective: Why are we auditing this department? Should be a combination of departmental objectives and control requirements.To ensure….To determine…II. Audit ScopeWhat is the Audit Scopea) Establishes parameters or boundaries for the audit b) Identifies:· Area to be audited (department or function)· Timeframe· Sample size (volume or dollars)III. Audit Program StepsGuidelines for Preparing Audit Programsa) Review audit program, if any, from prior audit. Determine what was covered, how it was covered, in what depth and with what results. b) Perform a preliminary survey to determine objectives of the operations, existing systems of internal control and apparent risks.c) Review internal audit literature which addresses the operation to be reviewed and may provide guidance to conducting the audit.d) The objectives of the operation under review should be carefully stated and agreed to by the client.e) Programs should be tailor-made to the audit assignment unless compelling reasons dictate otherwise.f) Work steps should include positive and clear instructions. They should not be stated in the form of questions.g) If possible, the audit program should indicate the relative priority of the work steps. Thus, the more important parts of the program will be completed in the allotted time.h) Audit programs should be flexible and permit the use of initiative and sound judgment in deviating from prescribed procedures. Audit supervisors should be informed promptly of major deviations.i) Programs should not be cluttered with material from sources readily available to the staff. Incorporate by reference, where feasible.j) Unnecessary information should be avoided. Include only what is needed to perform the audit work. Excessive detail wastes the time of those who prepare and read the programs.k) Audit programs should bear evidence of supervisory approval before they are carried out. Significant changes should also be approved in advance.
What is the purpose of the Institute of Internal Auditors' internal audit function?
The internal audit function is to ensure that an organization meets its objectives through a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance
What is a social audit?
Social Audit is basically a process through which organizations are enabled to assess and demonstrate the social, economic and environmental limitations and benefit for itself. This process helps in measuring the extent to which organizations hold to their shared values and objectives. In other words, a social audit is a review of a business' social responsiveness.
What is a Marketing Audit?
A marketing audit is a detailed and systematic analysis of a company's problem areas in terms of market penetration. The analysis is done independently by the company itself. The analysis analyzes the market environment, the marketing strategies, and company objectives to better see where the company may be falling behind.
What are the objectives of the organizational communication?
One objective of organizational communication is to identify ways to better communicate with a companies stakeholders. Doing an audit of current communication strategies is the first step.
Differences between IS Audit nad Traditional Audit?
what is the differences between IS Audit and traditional Audit?
