©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 1Internal and Governmental Financial Auditing and Operational Auditing Chapter 26 This is trial version w
Trang 1©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 1
Internal and Governmental Financial Auditing and Operational Auditing
Chapter 26
This is trial version www.adultpdf.com
Trang 2©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 2
Learning Objective 1
Explain the role of internal auditors in financial auditing.
This is trial version www.adultpdf.com
Trang 3©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 3
Internal Auditing
The New York Stock Exchange requires its
registrants to have an internal audit function
This is trial version www.adultpdf.com
Trang 4©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 4
Internal Auditing
It is an independent, objective assurance
and consulting activity designed to add
value and improve an organization’s operations
It helps an organization accomplish its objectives
by bringing a systematic, disciplined approach to
evaluate and improve the effectiveness of risk
management, control, and governance processes
This is trial version www.adultpdf.com
Trang 5©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 5
Institute of Internal Auditors Ethical Principles
Confidentiality
Objectivity
Competency
This is trial version www.adultpdf.com
Trang 6©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 6
Institute of Internal Auditors Rules of Conduct
Integrity
Confidentiality
Objectivity
Competency
This is trial version www.adultpdf.com
Trang 7©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 7
Relationship of Internal and External Auditors
The external auditor is responsible
to financial statement users
The internal auditor is responsible
to management Differences:
This is trial version www.adultpdf.com
Trang 8©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 8
Relationship of Internal and External Auditors
Competency
Methodology
Objectivity
Audit risk model Similarities:
This is trial version www.adultpdf.com
Trang 9©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 9
Learning Objective 2
Describe the auditing and reporting requirements under Government Auditing Standards and the Single Audit Act
This is trial version www.adultpdf.com
Trang 10©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 26 - 10
Governmental Financial Auditing
The primary source of authoritative literature for performance of government audits is
Government Auditing Standards,
which is issued by the GAO
Because of the color of the cover, it is usually referred to as the “Yellow Book.”
This is trial version www.adultpdf.com