internal audit
Quick Summary
Internal audit involves employees of a business examining and verifying accounting records and systems. This is distinct from an independent audit, which is conducted by external specialists. Internal audits focus on evaluating the effectiveness of a company's accounting system and internal controls. This practice is relatively new compared to the long history of auditing.123
Ask Britannica AI about this topic
Britannica doesn't have a full article on this topic, so we've curated a list of our relevant coverage.
- auditingStandardization of audit procedures
Internal auditing, designed to evaluate the effectiveness of a company’s accounting system, is relatively new. Perhaps the most familiar type of auditing is the administrative audit, or pre-audit, in which individual vouchers, invoices, or other documents are investigated for accuracy and proper authorization before they…
Read MoreInternal auditing, designed to evaluate the effectiveness of a company’s accounting system, is relatively new. Perhaps the most familiar type of auditing is the administrative audit, or pre-audit, in which individual vouchers, invoices, or other documents are investigated for accuracy and proper authorization before they…
Read More 
accountingOther purposes of accounting systems…element in this system is internal auditing. The task of internal auditors is to see whether prescribed data handling and asset protection procedures are being followed. To accomplish this, they usually observe some of the work as it is being performed and examine a sample of past transactions for accuracy…
Read More…element in this system is internal auditing. The task of internal auditors is to see whether prescribed data handling and asset protection procedures are being followed. To accomplish this, they usually observe some of the work as it is being performed and examine a sample of past transactions for accuracy…
Read More