Importance of Audit Planning for Process Based Internal Audit
DOI:
https://doi.org/10.33516/maj.v55i4.23-25pKeywords:
No Keywords.Abstract
For successful completion of audit assignment, one of the basic need is proper audit planning. A detailed audit plan would cut the time in field work and reporting. Due to a well thought out plan, the Internal Auditor knows which areas are more risks to be concentrated in audit and also have a subject expert to guide the team. This adds value to the audit assignment and would immensely beneficial for both the auditor as well as the audit customer. In this article, it is explained the need for process based internal audit, importance of audit planning and the steps of planning process.Downloads
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Published
2020-04-30
How to Cite
Veeraraghavan, C. (2020). Importance of Audit Planning for Process Based Internal Audit. The Management Accountant Journal, 55(4), 23–25. https://doi.org/10.33516/maj.v55i4.23-25p
Issue
Section
Cover Story
References
Compliance Audit Guidelines by CAG of India
COSO’s Internal Control Framework