Name and describe the different types of audits
What will be an ideal response?
Answer: The financial audit — this audit examines the reliability and integrity of accounting records (both financial and operating information).
The information systems audit — this audit reviews the general and application controls of an AIS and assesses its compliance with internal control policies and procedures and effectiveness in safeguarding assets.
The operational or management audit — this audit conducts an evaluation of the efficient and effective use of resources, as well as an evaluation of the accomplishment of established goals and objectives.
You might also like to view...
Horon Furniture is a manufacturer of office furniture. The company is known for its innovative multi-purpose furniture. When designing a new product, the designers list several ideas and consider each in relationship to others
For example, The company considers various options such as an office table, foldable chairs, and filing cabinet, etc. Finally the company may come up with a foldable office table with chairs attached and with a filing cabinet. Describe the creativity technique used at Horon Furniture.
For more than 2,000 years until the 1949 communist revolution, which of the following, which teaches the importance of attaining personal salvation through right action, was the official ethical system of China?
A. Maoism B. Feng Shui C. Confucianism D. Shintoism E. Buddhism