Role of accounting standards on internal audit
This query is : Resolved
24 October 2013
Hi,
I need help on identifying accounting standards that are important from the perspective of Internal Audit. I need help to identify how an Accounting Standard help me in a Risk Based Review of Internal Controls for any organization. Also, please help me with list of such Accounting Standards.
Thanks,
Sheetal
I need help on identifying accounting standards that are important from the perspective of Internal Audit. I need help to identify how an Accounting Standard help me in a Risk Based Review of Internal Controls for any organization. Also, please help me with list of such Accounting Standards.
Thanks,
Sheetal
25 October 2013
How can we select important accounting standards out of total standards
..
.
as an internal auditor you are required to make sure company accounting is as per icai accounting standards
.
.
if we have knowledge on all standards automatically we can guide better accounting,
.
suppose
1)AS2-inventory valuation
2)AS9-revenue recognition
3)AS10-capitalization of fixed assets
4)AS11-forex fluctuation entries
5)AS13-accounting for investments
6)...etc
..
.
as an internal auditor you are required to make sure company accounting is as per icai accounting standards
.
.
if we have knowledge on all standards automatically we can guide better accounting,
.
suppose
1)AS2-inventory valuation
2)AS9-revenue recognition
3)AS10-capitalization of fixed assets
4)AS11-forex fluctuation entries
5)AS13-accounting for investments
6)...etc
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