located in Hyderabad was done, by being a part of the Internal auditing team, under the guidance of one of the partners of the firm i.e. Mr. Suresh Kumar Gupta. ‘Internal Auditing’ is one of the many services that SMA offers apart from a range of services in the field of finance, taxation and corporate advisory. This report has been divided into many sub segments explaining the different processes and terminologies related to the field of Internal
The evolution of internal auditing has been a very dynamic one. It has been affected by the increasing focus for its role in corporate governance, especially because of its links with internal control. Internal auditors had to extend their area of actions, becoming more involved in control and governance processes. In the light of these changes, new concept began to become the bull’s eye for an auditor which includes the added value by internal audit to organizations and its effectiveness. In order
Acknowledgement First of all, we would like to express our grateful to Allah SWT for His blessing and ease our journey in completing this Comparison Analysis on Internal Audit Department of Malaysia Airlines Report. Alhamdulillah, we are able to complete this project report within the time frame set. Special thanks to our lecturer, Encik Mohd Zulfikri B Abd Rashid, for the patient guidance, encouragement and advice she provided throughout our time as her student. We have been lucky to have a
FRAUD Fraud encompasses a wide range of irregularities and illegal acts characterized by intentional deception or misrepresentation. The Institute of Internal Auditors’ (IIA’s) IPPF defines fraud as any illegal act characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the threat of violence or physical force. Frauds are perpetrated by parties and organizations to obtain money, property, or services; to avoid payment or loss of services; or to secure personal
Introduction and development of Forensic accounting The term forensic auditing started from the 1940’s and has taken significant Place in this modern economy.” In the late 1940s, forensic auditing proved its worth during World War II; however, formalized procedures were not put in place until the 1980s when major academic studies in the field were published (Rasey 2009). Forensic auditing is the specialty area of the accountancy profession which describes engagements that result from actual or anticipated
through serious accounting scandals due to flaws in their corporate governance. SOX was enacted as a reaction to these scandals. The other reasons are: 1. For protecting the investors 2. To detect fraud easily by resorting to practices like internal auditing 3. To build up the public confidence in public accounting as well as securities traded publicly 4. Make people more aware and accountable which in turn
involved. International Standard on Auditing (ISA) 600 concerns the use of the work of another external auditor, ISA 610 covers the theme of considering the work of the internal auditor and ISA 620 concerns the use of the work of an expert. ISA 601 states the external auditor’s
of sale that is the shelf space in this case that the merchandising demands additional attention. Products run the risk of getting stuck in shelf spaces if they are not supported effectively by means of merchandising and promotion. We believe that an effective system of performance indicators will help in the management of promotion strategies. The key performance indicators or KPIs should cater to both internal processes and the market results. The internal KPIs will enable the reasoning behind introduction
This chapter focuses on integrating and controlling a retail strategy We tie together the material detailed previously show why retailers need coordinated strategies and describe how to assess performance By integrating and regularly monitoring their strategies firms of any size or format can take a proper view of the retailing concept and create a superior total retail experience Consider how Dollar Tree competes with Wal-Mart-which is more than 80 times larger A major goal of Retail Management
or value creation in a company without taking risks. If they are not properly managed and controlled, these risks can affect the ability of the company to achieve its objectives. Continuing to prevent and manage the risks, the risk management and internal control systems play a key role in the conduct and management of different activities. The overall ‘control’ in management roles are to secure the objectives of the company, enable leaders to have a comprehensive and shared vision of the main threats