Get 1400 Flashcards sumarizing all you need to be a successful professional government public sector Auditor.
Invest in your Success Now, your investment in knowledge, professionalism & expertise is durable and with a high value added, it's a High return investment indeed.
Top of Learning latest technology features:
- Learn on the Go, anywhere, anytime
- Off-line mode enabled for all the materials
- Drive or Ride & learn with audio hands free top-Tech
- Sort your flashcards by Topic
- Search flashcards by key words
- 5 Study Modes
- Listening to study notes
- Favorite & bookmark cards
- Data Analytics of your study sessions
- Full dashboard to monitor your progress
- Add and save your own flashcards
- Edit & replace existing Cards
Government Auditors review the finances and practices of federal agencies. These auditors report their finds to congress, which uses them to create and manage policies and budgets. Government auditors work for the U.S. Government Accountability Office, and most state governments have similar departments to audit state and municipal agencies. Further information: Internal auditors
The most commonly used external audit standards are the US GAAS of the American Institute of Certified Public Accountants and the International Standards on Auditing (ISA) developed by the International Auditing and Assurance Standard.
Internal auditors are employed by the organizations they audit. They work for government agencies (federal, state and local); for publicly traded companies; and for non-profit companies across all industries. The internationally recognized standard setting body for the profession is the Institute of Internal Auditors - IIA (www.theiia.org). The IIA has defined internal auditing as follows: "Internal auditing 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". Thus professional internal auditors provide independent and objective audit and consulting services focused on evaluating whether the board of directors, shareholders, stakeholders, and corporate executives have reasonable assurance that the organization's governance, risk management, and control processes are designed adequately and function effectively. Internal audit professionals (Certified Internal Auditors - CIAs) are governed by the international professional standards and code of conduct of the Institute of Internal Auditors.[14] While internal auditors are not independent of the companies that employ them, independence and objectivity are a cornerstone of the IIA professional standards; and are discussed at length in the standards and the supporting practice guides and practice advisories.Internal auditors of publicly traded companies in the United States are required to report functionally to the board of directors directly, or a sub-committee of the board of directors (typically the audit committee), and not to management except for administrative purposes. As described often in the professional literature for the practice of internal auditing (such as Internal Auditor, the journal of the IIA) -,[15] or other similar and generally recognized frameworks for management control when evaluating an entity's governance and control practices; and apply COSO's "Enterprise Risk Management-Integrated Framework" or other similar and generally recognized frameworks for entity-wide risk management when evaluating an organization's entity-wide risk management practices. Professional internal auditors also use control self-assessment (CSA) as an effective process for performing their work.
This app is suitable not only for accounting students but also for CPA, CMA, COSO, IFRS, ERM, CIA, ACCA, CA, ACA, CFE, CISA, CGAP, CRMA, candidates.
