TECHNICAL GUIDE ON INTERNAL AUDITING
(Including Internal Audit Survey 2014)
Prepared by: Directorate of Advanced Studies,
ICAI and Published by:
Taxmann Publications Pvt. Ltd. and Published by: Taxmann Publications Pvt. Ltd. Price: Rs. 375/- Price: Rs. 375/- The topics covered in the Technical Guide include: Evolution of the Profession of Internal Audit :-
Factors necessitating evolution of internal audit, phases of evolution, pertinence of different types of audit under internal audit and the future of internal auditing practices Internal Auditor’s Qualities:- The desired attribute set of an internal auditor, the professional qualification and skill sets (technical and soft skills) of an internal auditor, the code of conduct for internal auditors Engagement of an Internal Auditor:-
The considerations for the engagement of an internal auditor, from the perspectives of the auditor as well as the engaging organization Audit Planning and Strategy:- The need, importance and steps involved during the phase of audit planning and developing audit strategy, in an internal audit engagement with illustrations Auditing Methods & Documentation:- Different audit tools and techniques available with an internal auditor suited for different audit universe, sampling techniques and other audit considerations; need, importance and principles of effective documentation during an internal audit engagement Risk Based Internal Audit:- The concept, its relevance and practice essentials with appropriate industry examples Social Audit:- The evolution and relevance of the concept, the social audit process, the skill set of a social auditor, the scope of role for internal auditors and CMAs in social audit with examples and illustrations Report Writing:- The principles and art of an effective and complete Internal Audit Report Survey Findings 2014:- The survey findings on the internal auditing practices being adopted by lead companies in India. The practitioners in the field of internal audit will find this Technical Guide useful as a practitioner’s guide in their internal audit engagement. Moreover, the survey results of the ‘Survey on Internal ‘Survey on Internal Auditing Practices in India’ will help practitioner Auditing Practices in India’ s to benchmark the internal audit functions in their respective organizations with peers in the same or other industries.