Internal audit definition

Internal audit means an independent appraisal activity established within a state agency as a control system to examine and evaluate the adequacy and effectiveness of other internal control systems within the agency.

Internal audit means an independent appraisal activity within an agency for the review of operations as a service to management, including a systematic examination of accounting and fiscal controls to assure that human and material resources are guarded against waste, loss, or misuse; and that reliable data are gathered, maintained, and fairly disclosed in a written report of the audit findings.

Internal audit means an independent appraisal activity

Examples of Internal audit in a sentence

• Internal audit must be carried out only in companies whose shares are listed on stock exchanges, while the other business companies may conduct internal audit and they can, at the discretion of their managers, appoint independent external financial auditors to carry out a financial audit of the company.

• Internal audit policies and procedures to ensure the integrity of internal control.

• Internal audit is provided in the Company by Directorate for Internal Audit.

• Internal audit risks are those risks or factors which may affect the conduct of the audit and may have an impact on the planned results without neglect and despite the exercise of due diligence, e.g., sudden change in politicalleadership/administration, replacement of the LCE, natural calamities, and judicial findings and decisions which may affect the audit objectives.

• Internal audit also noted concerns over card-issuing procedures, highlighting inconsistency in local authority practice and lack of audit trail over validation of eligibility.

More Definitions of Internal audit

Internal audit means a process to measure, evaluate and report to the management of an entity on the efficacy of the system of internal control used to ensure the validity of financial and other information;

Internal audit means the audit of local offices, conducted by the benefit payment control section, to ensure that proper procedures and policies are being adhered to by local workforce development center personnel.

Internal audit means any audit of the licenceholder carried out by it or at its request, except an external audit.

Internal audit means a process to measure, evaluate and report to the Board on the adequacy and effectiveness of the system of internal control, risk management strategies and governance of the organisation used to ensure the validity of financial and other information;

Internal audit means an independent appraisal activity established within a local education agency as a control system to examine and evaluate the adequacy and effectiveness of other internal control systems within the local education agency.

Internal audit means a review of transactions and records performed by a District employee, typically a member of the business department, for the primary purpose of determining compliance with law, rules, and District policies, procedures, and internal controls.

Internal audit means the function described in SFI 3.4