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How can internal audit improve your financial processes?

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Question added by Abdullah Mahhaden, CFA, CPA , Assurance Manager , Grant Thornton
Date Posted: 2013/06/15
Ashraf Ali
by Ashraf Ali , Chief Accountant , Sky Steel Systems LLC

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes The scope of internal auditing within an organization is broad and may involve topics such as an organization's governance, risk management and management controls over: efficiency/effectiveness of operations, the reliabilitty of financial and management reporting internal auditors may have a variety of higher educational and professional backgrounds.

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