Literature Review on Internal Audit

Survey finds internal inspect jeopardize appraisals inconsistent socio-economic class: August, 2007 The report suggests that internal inspecting needs to identify areas of high and naturalise risk that are part of the internal audit jut but have been deferred or cancelled because of the organizations tenseness on Sarbanes-Oxley Section 404. It recommends that chief audit executives (CAEs) revisit the budgets, skills, and capabilities requisite to achieve a comprehensive, balanced, and risk-based approach to auditing, as well as develop a process to advise the audit military commission and senior management about emerging risks. In another(prenominal) findings, internal audit leaders say their greatest argufy is finding enough qualified talent to address the evolution and increasingly complex needs of their stakeholders. To help address this problem, rotational staffing has become a key source of talent for much than 80 percentage of respondents from Fortune 500 companies. Additionally, the report notes that audit departments are using report ratings, such as joy or number scales, with mixed results. Although many CAEs say ratings take them to communicate the potential level of exposure and risk associated with audit findings, 56 percent say ratings often create rubbing at their organizations and slow down the audit process.

Finally, 43 percent of respondents use some form of continuous auditing or observe in their audit operations. The PwC report is available from the companys meshing site, www.pwc.com/internalaudit. Reference: http://findarticles.com/p/articles/mi_m4153/is_4_64/ai_n27348378/ PwC Study: Internal Audits deficiency Strategy for Risk Assessment Year: May 21, 2007 at that place continues to be a lack of consistency around the assessment of risk by internal auditors, according to the third yearbook study of current issues for the internal audit profession conducted by PricewaterhouseCoopers. A number of divergent and conflicting trends related to risk assessment are a concern... If you want to get a full essay, order it on our website: Ordercustompaper.com

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