Internal audit

Internal audit is the name given to an independent appraisal function established within a business to examine and evaluate its activities as a service to the business. The objective of internal auditing is to assist members of the business in the effective discharge of their responsibilities. To this end, internal auditing furnishes them with analyses, appraisals, recommendations, counsel and information concerning the activities reviewed. (See also audit)

 

reference: Business Studies / Accounting. Accounts & Finance Glossary. Jim Riley BA(Hons) MBA FCA // tutor2u

Tags: