CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
Internal
audit had been defined “as an independent appraisal function established within
an organization to examine and evaluate its activities as a service to the
organization”. Internal auditing is a process generally adopted towards
ensuring and safeguarding of resources and promoting operational efficiency in
organizations. The responsibilities for effective internal auditing normally
rest on with the internal auditors who in turn rely a great deal on the
soundness and effectiveness of internal control system.
The
business world is developing so in the complex nature of the organizations.
This complexity of modern organizations and hence the management has led to the
much broader role at the internal audit. The role of internal audit is fast
moving from mere checking of documents and physical duties to analyzing the
ability of organization to react to changing circumstances.
Auditing
for the public sector is aimed at prevention of mistakes, shortcomings and
misdeeds in the public administration. The internal audit has become a good
control measures that can foretell all the incidence of fraud and
misappropriation of fund in government ministries if properly put in place.
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