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External and Internal Audit
Sherri Franklin
Argosy University

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As the studyors prepare for the audit, a graph allow show the differences between internal auditing and external auditing. along the way, the chart get out show the similarities as well. This audit exit let the keep comp all see what improvements pick up to be do for the company to move forward. This audit will be pore on the finances of first principle Company. The audit group up will be meeting with the Chief Financial Officer of ABC Company, along with key figures in the accounting department. There is a chance that management for the day to day operations will be a part of the meeting as well. The company will be researched online; we will seek out any relevant information that shows the company. It may be relevant to do audits on something besides the financial process. After that, the data, both news report and electronic will be gathitherd and reviewed. What the team has to do is become familiar with the process, be it paper or electronic, so the team can understand it. At this point, the team starts to start a list of questions and present them to the contacts of the organization.



Why are there questions, after the team looks at the data given from the organization, the team will try obtaining more information to help make in the gaps in the data already received.
Now the team will organize the data and use the responses form the questions. A format will be set up that is diffused to work with, as so the audit does not polish forever. Based on the documents received, many audits usually take from 2 weeks to a month to do, unless the company is rather large, like Chrysler, Wal-Mart or General Motors, who knows how long the audit will take.
With the data complied, the team will find areas that are in compliance and areas that need more attention. The team will note this as the audit progresses.
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The improvement process is done giving the suggestions to the company. As the...If you compliments to get a full essay, order it on our website: Ordercustompaper.com



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