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internal audit
(redirected from Internal auditing)

    Also found in: Legal, Wikipedia 0.07 sec.
Internal Audit
An audit performed by a person (or persons) employed by the firm being audited.

Notes:
Internal audits have quickly become an important aspect of corporate governance, thanks mainly to the Sarbanes-Oxley Act of 2002.

internal audit
The examination of a company's records and reports by its employees. Internal audits are usually intended to prevent fraud and to ensure compliance with board directives and management policies. In contrast, the financial statements presented to stockholders are typically prepared by outside parties to ensure absolute objectivity. Compare external audit.


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Following what The Institute of Internal Auditors is calling "the most comprehensive global study ever conducted on the internal audit profession," the group concluded that internal auditing is becoming more standardized throughout the world.
Internal audit becoming standardized globally by Marshall, Jeffrey; Heffes, Ellen M. / Financial Executive
By separating the internal control promotion and auditing functions within the Internal Auditing Division, we will further improve the efficiency of control activities and ensure a more independent and objective auditing process.
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Accume Partners, a New York City based internal auditing firm, is handling the process for about a dozen districts across the state, including
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