The dependence of internal audit
The purpose of internal audit is to become the eyes of managers and promote the management most suitably, so that internal audit department should respond to the directions of managers or owners positively. In addition, it is under the direct supervision of managers so that it can be moved away from the management of other departments. Hence, the most significant element for the work of internal audit is to keep dependence.
In order to display the function of internal audit efficiently, the following steps are necessary. Because the internal audit should be conducted objectively and work strictly and clearly.
To keep dependence of department
To give the proper authority
To ensure the position
Basic of internal audit
The leading faction of internal audit is to understand method of risk approach correctly and then the value of internal audit can be improved.
With the forcing of Companies Act and Securities Exchange Act, internal governance becomes the foundation in many companies. Hence, the function of internal audit will be more important because it is an independent department, which displaying the function of monitor of internal governance.
The basic contents of internal audit including:
❶ Foundation management of internal audit
Necessarily foundation items of managing the conditions of internal audit
Construction of model of risk evaluation
Draw up yearly audit plan
❷ Acquisition of practical risk approach
Process of preparation advance
Process of reporting results and correcting problems
Process of checking audit separately
Relationship of internal governance and internal audit
In order to understand relationship of internal governance and internal audit, it is necessary to understand internal governance. Internal governance is regulated under the Companies Act and Securities Exchange Act. The basic framework of internal governance is COSO framework. And the purpose of internal governance is to obey regulations, to ensure reliability of financial statements and to conduct work efficiently.
For the purpose of evaluating and monitoring of the system of internal governance, internal audit plays the important role. And it provides advice as the view of third party.
Our services of internal audit in Bangladesh
Plan the system of internal governance and internal audit
Find out the problems of internal audit of clients’ companies
Provide advices based on the conditions of Bangladesh
Respond to the language problem of internal audit in Bangladesh
To learn more about our incorporation assistance and a range of services of internal audit in Bangladesh, send us a message or call us at +81-3-5369-2930.