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  • INTERVIEW QUESTIONS AUDIT DETAILS
    Question :
    What are the different advantages and disadvantages of internal audit?
    Category Audit Interview Questions
    Rating (0.4) By 1164 users
    Added on 7/22/2010
    Views 1528
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    Answers:

    Advantages of Internal Audit are following:
    It is in-expensive.
    No charted accounted is required to audit internally.
    Errors will be removed before preparing financial statements.
    There will not be any type of embarrassment in the society because errors have been removed.
    Accounting staff will remain in pressure so record will remain update every time in the organization.
    Disadvantages are following:
    Internal audit is not acceptable by the shareholder.
    There can be errors in internal audit because he is not an auditor.
    And there are some more.



    Advantage of internal Auditor;
    give an independent assurance for the management
    it adds valu for the oraganization
    it helps an organization in accomplishing its objective
    Disadvantage if internal audit
    The management may be more depend on the internal audit report and come to wrong conculution and decisions.



    Posted by: berhanu edea    

    Contact berhanu edea Contact berhanu edea

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