If an internal auditing organization undertakes an external review every three years, is the expense of internal
Question:
If an internal auditing organization undertakes an external review every three years, is the expense of internal reviews warranted?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Introduction Internal auditing is a crucial function within organizations to provide independent and objective assurance on the effectiveness of risk management control and governance processes Extern...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Weatherford International The oilfield services industry includes thousands of companies large and small that provide drilling, seismic testing, transportation, and a wide range of other services to...
-
Our shareholders are demanding better performance form us. Our market evaluation has been basically flat for most of the last decade. At the same time, we need to be making larger investments in our...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
Refer to all of the facts in Problem 12-6. Required 1. Using the format in the chapters appendix, prepare a statement of cash flows work sheet. 2. Prepare a statement of cash flows for 2014 using the...
-
Derive an equation to find the end of year future sum F that is equivalent to a series of n beginning-of-year payments B at interest rate i. Then use the equation to determine the future sum F...
-
A heated controversy rages about the possibility of a computer actually thinking. Do you believe that is possible? Do you think a computer can eventually be taught to be truly creative?
-
1. What are the various types of emotional ability?
-
1. Section 16(a) of the Securities and Exchange Act of 1934, as amended in 1990, requires that the officers, directors, and principal shareholders of companies disclose the extent of their ownership...
-
Andretti Company has a single product called a Dak. The company normally produces and sells 8 2 , 0 0 0 Daks each year at a selling price of $ 5 6 per unit. The company's unit costs at this level of...
-
Describe the potential legal implications of the failure of an internal auditing department in a multinational corporation to undergo external reviews.
-
An internal audit organization has functioned successfully for a number of years. It has good rapport with its auditees and solid backing from management. At a meeting with the audit committee of the...
-
For the data given in Table 23.1, use a graphics package or a spreadsheet, such as Excel, to construct the following graphs: a. Pie chart b. Line chart c. Bar chart (lb) (5b) (5c 6a (la) TABLE 23.1...
-
Vaporization of mixtures of hexane and octane. Using the T-x-y diagram (Figure 1) on the next page, determine the temperature, amounts, and compositions of the vapor and liquid phases at 1 atm for...
-
what should p&g do to replace lafley when he retires a second time? what actions should they take to prepare for the succession?
-
What do these terms mean? What would be the currencies (one at a time) from two total UN Member States (other than the EURO, USD, JPY, GBP, or CHF). What would be the foreign currencies and how they...
-
How do social identity processes, such as categorization, identification, and comparison, influence team cohesion and performance within complex organizational environments ?
-
How do calculate sales forecast and expense forecast for several years
-
The City of Larissa recently opened a solid waste landfill to serve the area's citizens and businesses. The city's accountant has gone to city officials for guidance as to whether to record the...
-
Chloroplasts are illuminated until the levels of the Calvin cycle intermediates reach a steady state. The light is then turned off. How does the level of RuBP vary after this point?
-
Precision Manufacturing Inc. (PMN makes two types of industrial component parts--the EX300 and the TX500. It annually produces 60,000 units of EX300 and 12,500 units of TX500: The company's...
-
Manexa Corporation borrowed $ 7 1 , 0 0 0 . 0 0 at 1 0 % compounded monthly for 1 2 years to buy a warehouse. Equal payments are made at the end of every month ( a ) Determine the size of the monthly...
-
31 QUESTION 2 Liz Perry Health and Beauty Products has developed a new shampoo and you need to develop Vs gregate schedule. The cost accounting department has supplied you the cost relevant to the...
Study smarter with the SolutionInn App