CA Dushyant Kumar

INTERNAL AUDIT:

Internal audits evaluate a company’s internal controls, including its corporate governance and accounting processes.

Objectives of Internal Audit

• Proper Control. One of the main objectives of an internal audit is to keep stringent control over all the activities.
• Perfect Accounting System. An internal audit keeps a very close check on the accounting system of an organization.
• Review of Business. The purpose of an internal audit is to keep a check on the financial and operational aspects of an organization.
• Asset Protection. In the process of internal audit, there is always a valuation and verification of an asset.