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AUDIT COMITTEE (REVIEW OF (PERFORMANCE OF AUDIT DEPARTMENT, POLICIES AND…
AUDIT COMITTEE
REVIEW OF
PERFORMANCE OF AUDIT DEPARTMENT
POLICIES AND PROCEDURES
RISK MANAGEMENT FUNCTION
MANAGEMENT PERFORMANCE
ORGANIZATION SYSTEM AND CONTROLS
APPOINTMENT OF EXTERNAL AUDIT AND THEIR FEE
INTERNAL AUDIT DEPARTMENT
INTERNAL DEPARTMENT INSOURCE/OUTSOURCE FEE
FINANCIAL STATEMENTS
ADVANTAGES
STRENGTHEN POSITION OF INTERNAL AUDIT DEPT
INDEPENDENT JUDGEMENT
CREDIBILITY AND OBJECTIVITY OF FS
CLIMATE OF DESCIPLINE
INDEPENDENT POINT OF VIEW
REDUCE FRUAD
STRENGTHEN POSITION OF EXTERNAL AUDIT
IMPROVE QUALITY OF FS
PROVIDE FRAMEWORK FOR EXTERNAL AUDITOR
DISADVANTAGE
COST INCREASED
COMPETENT NED NOT FIND
ED NOT UNDERSTAND PURPOSE OF AUDIT COMMITTEE
CULTURAL MISMATCH
ADVA
