Audit Essay

906 Words Sep 22nd, 2015 4 Pages
INTERNAL AUDITING AS AN EFFECTIVE TOOL FOR CORPORATE GOVERNANCE

This journal of JBM International Science Press, examines the study of the relationship between internal audit and corporate governance with various argumentations of internal audit activities, attempting to sketch out their relationship. It analyses the contribution of internal audit to corporate governance. Based on what I found in the journal and my opinion, this journal have emphasized the importance of internal audit which is really compulsory for every company to follow as it improves the efficiency and effectiveness of the management and company. Moreover it also have mentioned that the relationship and communication between employer and
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Second, its time consuming. Creating internal safeguards is often a time consuming process. Business owners may also face the disadvantage of learning about control systems while working in the business. Internal audit control systems can also be time consuming for owners and managers to maintain. Time-consuming safeguards may cause managers and employees to find ways of getting around the control system. This weakness can create difficult management situations for owners attempting to maintain proper business practices. Business owners may also be unable to dedicate the time needed to review extensive internal audit control systems. This might risks the business which makes fast decisions and time oriented. Third, lack of knowledge. Business owners may be unaware of the best internal audit control systems to implement in the company. This lack of knowledge makes it difficult to create effective safeguards that protect business and financial information. Business owners should carefully consider how to create the best internal audit control systems for their company. To avoid this weakness, business owners may consult with a public accounting firm of management consultant. These individuals can provide inside the best control systems for certain types of business operations. Lastly, difficulty in understanding the internal

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