By the end of this session you should be able to:
- identify the requirements for external audit and the basic processes undertaken
- explain the meaning of fair presentation
- distinguish between external and internal audit
- explain the purpose and basic procedures of internal audit; the need for financial controls and the purpose of audit checks and audit trails
- explain the role of internal audit in non-financial monitoring and control activities
- illustrate the added value internal audit provides to both the board and management of the corporation
- explain the nature of errors
- explain the nature of fraud
- describe the different methods of fraud prevention and detection
and answer questions relating to these areas.
QuizzesStatus