Audit Department

Audit Department

A department within a company responsible for conducting internal audits when deemed necessary. The audit department ensures accuracy of records and compliance with relevant regulation and company policies.
References in periodicals archive ?
The internal audit department has performed various reviews and audits on the company's systems throughout the year.
In this light, we study management's trade-off of external auditor expertise with the proficiency of internal accounting personnel or the use of an internal audit department. We predict that organizations that choose not to hire professionally certified accounting personnel or not to use an internal audit department will select an auditor with increased levels of industry expertise.
Jerry Lange, director of the school's Internal Audit department, says he met twice a week with representatives from a variety of campus departments to keep them abreast of the latest developments in the scandal so that nobody would be caught off-guard.
Before joining Groupama in October 9.001, Tessier was chief financial officer for Sorema, and was also a senior manager in Ernst & Young's audit department. Accountancy firm Armstrong Watson has appointed Richard Rankin as senior corporate finance manager.
He will lead the company's internal audit department, which has a co-sourcing arrangement with Ernst & Young.
Bank's audit department serves as a centralized internal audit department for the group and reports directly to Credicorp's board of directors.
Wal-Marts internal audit department also calculated a ceiling and floor shrinkage rate limitation based on a five-year weighted average.
Published by Simon & Schuster and available at all major bookstores, the author, Richard Ross, is a vice president in the audit department of Lehman Brothers.
Audit department revealed that the official vehicles in some cases were even used on gazette holidays without maintaining the requisite record, thus the use of such vehicles was unauthorised that incurred the aforementioned expenditure.
The Malaysian Anti-Corruption Commission (MACC) will meet with the National Audit Department before deciding whether an investigation should be conducted on the weaknesses disclosed in the Auditor-General's Report.
The spokesman said, if the observations of NAB and Audit Department of Sindh government were overruled, the university administration would have no objection on paying encashment of leave forthwith to the employees.
Meanwhile the AJK Director General Audit Hassan Rana presented reports to AJK President regarding the annual Audit, performance audit and special reports and told to the president that audit department has audited 22% expenditures while auditing the income of Rs.925 million out of the target Rs.14 billion which was the 7% of total income he added.
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