Internal audit
This query is : Resolved
Subodh Kumar Goel
(Querist)
16 January 2015
Kindly Provide us the format of internal audit of a manufacturing concern
Ganeshbabu K
(Expert)
16 January 2015
1)Internal audit reporting will be depends on size and nature of the company and scope with which firm of chartered accountants agreed.
2)General format of reporting.
a)Issue/observation
b)risk level,impact of this issue
c)Auditor's recommendation for improvement of internal control.
d)Management reply
e)auditors reply if any on "d"
2)General format of reporting.
a)Issue/observation
b)risk level,impact of this issue
c)Auditor's recommendation for improvement of internal control.
d)Management reply
e)auditors reply if any on "d"
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