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Types of operational audit?
types of operational audit?
3 general types of quality audits?
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
What is financial Cost of internal Audit?
The financial cost of an internal audit includes expenses such as salaries for audit staff, costs of training and development, and resources for audit tools and software. Additionally, there may be indirect costs related to the time spent by management and employees in preparing for audits and responding to findings. Overall, while these costs can be significant, effective internal audits can lead to improved compliance, risk management, and operational efficiency, potentially saving the organization more in the long run.
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.
Differences between audit plan and audit program?
difference between audit program audit & note book
Types of operational audit?
types of operational audit?
What is an audit. Types of audit?
TOBBACCO
Difference between cost audit and financial audit?
Cost audit is done to audit the cost elements of unit costs while in financial audit, audit of financial statements is done to find out information provided is true and fair or not.
What is the difference between cost audit and management audit?
Mgt audit is not compulsory under the law .cost audit in certain industry ,it is legally compulsory
What are the types of tax audit?
from my view and what i learned, there is only two types of tax audit that includs (a) desk tax audit (b) field tax audit
3 general types of quality audits?
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
Explain the various types of conflict?
various types of audit
Define cost audit?
The purpose of a cost audit is to verify all cost accounts and ensure that the company is following the predefined cost accounting plan. This type of audit focuses on every department within an organization to ensure that costs are being managed properly.
What is the difference between Financial Audit and Cost Audit Describe each of them?
A financial audit is an independent examination of a company's financial statements to ensure accuracy and compliance with accounting standards and regulations. It verifies that financial records reflect the true financial position of the organization. In contrast, a cost audit focuses on verifying the cost accounting records, ensuring that cost data is accurate and that the company adheres to cost control measures. While financial audits focus on overall financial integrity, cost audits are concerned with efficiency and the management of resources. For more insights on audit practices and project management training, visit PMTrainingSchool .Com (PM training).
What are the types of audit report?
There are four types of Audit Reports 1. Standard Unqualified 2. Unqualified with explanatory paragraph 3. Qualified and 4. Adverse
Can cost accountant do the internal audit of the company?
Cost Accountant can very well do the internal audit of the company. Since internal audit is the 'seeing us inside' and also the scope is the operations and compliance part of the activities, cost accountants have expertise in conducting the same. They are the 'most fit' professionals for conducting internal audit of manufacturing operations, processes and activities and assessing the risk involved in each area. The new Companies Act, as such, recognises cost accountants along with other finance professionals for award of internal audit assignment. And internal audit has been made mandatory for certain class of companies. But, the cost accountants who are engaged in cost audit assignment of the company cannot be engaged for internal audit of the same company as the engagement would affect objectivity and there may be conflict of interest.
What are the 2 types of Audit Tests?
Following are two types of tests:Control testCompliance test
