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Need an research paper on external audit, internal controls & management information systems. Needs to be 8 pages. Please no plagiarism.
Need an research paper on external audit, internal controls & management information systems. Needs to be 8 pages. Please no plagiarism. Most public companies have an internal audit function. The internal auditor generally consists of employees from within the organization, although at times this some or all of this function may be outsourced (ABA, 2007).
For companies where internal auditing exists, it is important for the auditing committee to meet with the senior internal auditing executives regularly to discuss problems and issues regarding the internal and external audit programs. Annual audit plans should also be reviewed regularly. Even if the internal audit program has been outsourced the auditing committee should hold regular meetings with theses representatives (American Bar Association, 2007). The fundamental contributor to the failure of an organization is a weak and ineffective internal audit system (Hamilton &. Micklethwait, 2006).
An internal auditing committee is crucial for assuring that the internal controls are working adequately and to ensure that the company's financial statements provide a true and fair view of the company and its affairs (Hamilton &. Micklethwait, 2006).
The audit committee is an integral part of corporate governance because it has the oversight responsibility for a public company's financial reporting processes and external controls.
