Audit management
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160044532
2007-09-24T16:25:08Z
SmackBot
433328
Date/fix the maintenance tags or gen fixes
{{Refimprove|date=July 2007}}
'''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 necessary skills and expertise to identify inherent [[risks]] of the [[business]] and assess the overall effectiveness of controls in place relating to the company's [[information technology]] operations.
Internal audit is a function setup the organisation to reduce the risk of fraud in the organisation and runs according to the management commands. This is the main difference between internal and external audit where external auditors and independent of management and hence external auditors give an opinion on the financial statements.
[[Category:Auditing]]
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