Implementing and Auditing the Internal Control System 1E
In this book, Dimitris N. Chorafas defines both auditing and internal control, explaining the value of internal control, why it must be audited and how this can be most effectively achieved. Internal control systems are examined from within the context of the globalization of financial markets, under the impact of the growth of information technology.
Table of Contents
Part I Why internal control systems must be audited: the role of auditing in an organization
what is meant by internal control?
internal control and the globalization of financial markets
new standards for auditing internal control and the use of risk based audits
a methodology for auditing the internal control system.
Part II Management appraisal of and accountability for the internal control system: senior management responsibilities with internal control
internal control implementation must focus on core functions
establishing an efficient internal control structure.
Part III Case studies on the implementation of internal control: applying internal control to our institution's limits system
auditing counterparty limits and trading limits
an internal control system for engineering design, product development and quality assurance
services provided by information technology to the auditing of internal control
the contribution of external auditors to the internal control system