The
Definition Of

Internal Audit

Amold W. Johnson has defined Internal Audit. “Internal Auditing is the independent appraisal activity within an organization for the review of the accounting, financial and other operations as a basis for protective and constructive service to management.” Business or undertaking of a very bug size like banking and insurance companies engage a certain set of people who conduct a kind of continuous audit during the whole of the year. They check the accounts which have been maintained by book-keepers. As a matter of fact, the nature of work of such a set of people who are called Internal Auditors is more or less the same as that of professional auditors who are appointed by the shareholders. The Internal Auditors are appointed by the Directors. The Internal Auditor checks the entries after they have been passed by the accounts clerks. He checks the accounts before the Auditor of the Company conducts the annual or six-monthly audit as the case may be. Internal audit is a device which detects any error or fraud which might have been committed while the internal check prevents the commission of an error or fraud. 

Category: Microbiology
Share it:

More from this Section

  • Epicellular
    Epicellular is on the surface of host cells.
  • Sepsis
    Sepsis poisoning by the products of putrefaction; a severe toxic state resulting from an infection with pyogenic microorganisms.
  • Streptobacilli
    Streptobacilli means bacilli in chains.
  • Phylogeny
    Phylogeny is the evolutionary or ancestral history of organisms.
  • Peristalsis
    Peristalsis is progressive and rhythmic contractions of the intestines.
  • Mutation
    Mutation is a stable change of a gene such that the changed condition is inherited by offspring cells.
  • Anaerobic respiration
    Anaerobic respiration is a respiration under anaerobic conditions in which a terminal electron acceptor other than oxygen is involved.