Audit management Definition Audit management is responsible for ensuring that board-approved audit directives are implemented. Audit management oversees the internal audit staff, establishes internal audit programs, and hires and trains the appropriate internal audit personnel. The staff should have the ...
Britannica English:Translation ofauditfor Arabic Speakers Last Updated: 16 Dec 2024 - Updated example sentences Love words? Need even more definitions? Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!
Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback. Noun The high-stakes environment has created a demand for professionals with exceptional skills in risk management, audit, governance and reporting to lead effective issue management effort...
1.(Professions) a person qualified to audit accounts 2.(Accounting & Book-keeping) a person qualified to audit accounts 3.a person who hears or listens 4.(Education)AustralandUSandCanadiana registered student who attends a class that is not an official part of his course of study, without ...
For the most part, external audits focus entirely on financial statements. However, external auditors can audit an entire organization and its processes if asked to do so. Plus, the effectiveness of risk management depends on the accuracy of the external auditor’s audit evidence. ...
Understanding the Audit Department The chief functions of an audit department are to: Determine compliance with policies and procedures Assess the quality of internal controls Evaluate the quality of risk management Evaluate compliance with rules and guidelines established by regulatory agencies (e.g.,Sec...
A state audit this year found the state isn’t doing a good job of tracking the effectiveness of taxpayer money. FromLos Angeles Times But court records show around half of the money remains unclaimed, and a federal judge ordered an audit of the city’s management of the fund earlier this...
business regulations, accounting policies, and risk management policies. Typically organizations will rely on this committee to help create financial reporting procedures as well. The advantage of these audit committees is that they have helped companies to run substantially smoother since their initial in...
Once a performance audit is completed, the findings are delivered to the management of the specific organization or program. The goal is for them to use the findings to implement any changes to improve processes that will help them achieve the stated goals. Typically, a follow-up performance au...
. An audit committee is a group of independent experts appointed by a company’s board of directors to oversee financial reporting and ensure compliance with legal and regulatory requirements. They serve as the bridge between the company, management, internal auditors, and the external audit firm....