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The internal audit to ensure that the information displayed on the administration and accurate enough and they are from the reality of true and proper documents and this examination requires all project operations punctuated catch of money and the processes that punctuated the exchange of money, and the establishment of internal audit these tasks leads in the end to prevent fraud and manipulation and the discovery of errors and this leads to boost confidence in the books and records, as well as the data and information
Identify the fraudulent potential areas in depth by investigation of a kind not hurting anybody and collect silent information about such areas, then exercise control by various preventive and observation measures that reduce any scope for such activities. Sometimes the presence of an inquiry itself will succumb all activities that may lead to fraudulent in nature.
AGREE WITH ALL ANSWERS
Internal auditing is a tool that organization can use as a self checking and evaluation its processes
Regarding preventing fraud:
- Evaluate internal control systems, recommend corrective actions and improvements.
- watch for potential fraud risk.
- Internal audit may advise Management on methods to ensure integrity.
Regarding detecting fraud:
- design tests that use audit technique to ensure controls are effective.
Regarding investigating fraud:
- Have ability and skills to gather evidences.
- Analyzing deficiencies in controls that enable fraud.
- Report conclusions and recommendation to the management.
Internal auditing is a tool that organization can use as a self checking and evaluation its processes. The scope and objectives of internal auditing that show for which purpose internal audit is applied in the organization. Description of internal audit process gives overview of procedure followed at the time of auditing to achieve the goals of prevention any kind misconduct.
Internal Auditor assist management with the evaluation of internal controls used to detect or mitigate fraud, evaluate the organization's assessment of fraud risk, and are involved in any fraud investigations.
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