Role of accounting standards on internal audit
This query is : Resolved
sheetal maliye
(Querist)
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
Ganeshbabu K
(Expert)
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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