Definition of Internal audit: This is a process of evaluating and reviewing an organization’s operations. It is including its internal controls, risk management, financial and accounting systems, and compliance with laws and regulations. The primary objective of internal audit is to provide independent and objective assurance to the organization’s management and stakeholders. That the organization’s… Read More »
Audit and Assurance Audit and Assurance are related concepts but are not the same thing. Assurance is a broader term that encompasses various activities aimed at providing confidence to stakeholders regarding the reliability, accuracy, and compliance of information. It involves evaluating and expressing an opinion or conclusion on a subject matter, which could be… Read More »
Audit and Assurance Evolve with Blockchain Audit and Assurance Evolve with Blockchain, Blockchain technology has the potential to significantly impact the fields of audit and assurance. Here are a few ways in which audit and assurance might evolve with the adoption of blockchain: Enhanced Transparency and Traceability: Blockchain technology provides a decentralized and immutable… Read More »
Types of Accounting standard Types of Accounting standard,There are several types of accounting standards, including: 1.International Financial Reporting Standards (IFRS): These are a set of accounting standards developed and maintained by the International Accounting Standards Board (IASB). They are use by companies in more than 140 countries, including India, to prepare their financial statements. 2.… Read More »