tailieunhanh - Lecture Auditing & assurance services (5th) - Module D: Internal, governmental, and fraud audits

After reading the material in this chapter, you should be able to: Define internal auditing; describe internal audit institutions (. IIA); describe how internal auditors interact with independent auditors; explain internal auditors’ independence problems; and list features of internal reports; explain the function of standards and measurements in economy, efficiency and program audits. | Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Module D Internal, Governmental, and Fraud Audits Objectives Define internal auditing; describe internal audit institutions (. IIA); describe how internal auditors interact with independent auditors; explain internal auditors’ independence problems; and list features of internal reports. Define governmental auditing; describe governmental audit institutions (. GAO); describe how governmental auditors interact with independent auditors; explain governmental auditors’ independence problems; and list features of governmental audit reports. Explain the function of standards and measurements in economy, efficiency and program audits. Describe the Single Audit Act of 1984 in relation to audits of governmental fund recipients. Define fraud auditing; describe various engagements performed by fraud auditors. Describe the elements necessary for a successful fraud examination and explain the differences between how fraud examination and external auditors handle evidence. Describe the ways CPAs can assist in prosecuting fraud perpetrators. Mod D- Internal Audit Basically- External auditors audit financial statements Internal Auditors audit business systems Mod D- Role of the Internal Auditor Ensure reliability and integrity of information Safeguard assets Ensure compliance with policies and regulations Achieve organizational objectives and goals Improve operational economy and efficiency Identify areas of business risk Help prevent and detect fraud Coordinate audit activities with external auditors Mod D- Standards for the Professional Practice of Internal Audit Attribute Standards 1000 Purpose, Authority, and Responsibility 1100 Independence and Objectivity 1200 Due Professional Care 1300 Quality Assurance and Improvement Program Performance Standards 2000 Managing the Internal Audit Activity 2100 Nature of Work 2200 Engagement Planning 2300 Performing the . | Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Module D Internal, Governmental, and Fraud Audits Objectives Define internal auditing; describe internal audit institutions (. IIA); describe how internal auditors interact with independent auditors; explain internal auditors’ independence problems; and list features of internal reports. Define governmental auditing; describe governmental audit institutions (. GAO); describe how governmental auditors interact with independent auditors; explain governmental auditors’ independence problems; and list features of governmental audit reports. Explain the function of standards and measurements in economy, efficiency and program audits. Describe the Single Audit Act of 1984 in relation to audits of governmental fund recipients. Define fraud auditing; describe various engagements performed by fraud auditors. Describe the elements necessary for a successful fraud examination and explain the .