Internal Audit - Guidance

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Querist : Anonymous

Querist : Anonymous (Querist)

17 June 2011 want to develop a internal audit program. the company has accounts in tally.
how to audit in it?
since its not auditor version cant invoke audit feature.
hw to develop internal controls?
how to develop control over physical records and link it with accounts in tally?
hw to develop sound internal control?

plz help me in the process.

Need urgently plz provide me some example datas plans audit programs developed practically for internal audit

Harsh Karan Singh

Harsh Karan Singh (Expert)

17 June 2011 Hi,

If you wish to carry out an Internal Audit, then first of all it is important to understand what are the operations of the company, what does it do and how does it execute its various transactions.

One we are through with that part, then all other questions can be addressed.

From the your questions it appears, you are more concerned about checking the financial records rather understanding and checking the processes and controls. Internal audit focusses on strenthening of controls so that records are accurate and not on checking qaccuracy of records itself. I hope I have made myself clear. Please revert if you have any more queries.

As far as an audit program is concerned, it has to be drafted based on the specific client that you are handling. speaking of general points in an audit you have to provide us with the nature of the client's operations and its industry.