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Articles Relating to the Lack of an Internal Audit Department in a Company in the UAE
Finance & Accounting
Pages 7 (1757 words)
Name Instructor Course Date Articles relating to the lack of an internal audit department in a company in the UAE Maximize Your Internal Audit Function by Wolf Alison and Philips F Joanne This article talks about optimization of the ability to meet the objectives of an organization by the alignment of the goals of internal audit with the company’s strategic goals.
It also means that the individuals involved do not assess their individual work or even that of those that they are answerable to. There should be a disclosure of any possible or real conflicts of interest that appear to hamper a straightforward and impartial assessment. The internal audit resources have also seen expansion for the purposes of satisfying the increasing demand for the services to facilitate financial report and internal control’s executive certifications. In the future years, it might be expected of the internal auditors to broaden their role to responsibilities such as the improvement of risk management, reduction of organizational costs and complexity, and participation in the development of governance and strategic processes. For instance, the rules of Proxy Disclosure Enhancements of the United States Securities and Exchange Commission to reveal their governance measures, which include the structure of their board, the board’s supervision of risk management as well as its relationship with the executive practices and policies of compensation. ...
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