Internal Audit


Internal Audit
The examination, monitoring and analysis of activities related to a company's operation, including its business structure, employee behavior and information systems. An internal audit is designed to review what a company is doing in order to identify potential threats to the organization's health and profitability, and to make suggestions for mitigating the risk associated with those threats in order to minimize costs.

Regulations, such as the Sarbanes-Oxley Act of 2002, have increased corporate requirements for performing internal audits. They are important components of a company's risk management, as they help companies identify issues before they become substantial problems. They also help identify risky behavior by individual employees and threats posed by outside parties, such as attempts to steal intellectual property.


Investment dictionary. . 2012.

Look at other dictionaries:

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  • internal audit — An inspection and verification of the financial records of a company or firm by a member of its own staff to determine the accuracy and acceptability of its accounting practices. Dictionary from West s Encyclopedia of American Law. 2005. internal …   Law dictionary

  • Internal audit — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • internal audit — A branch of auditing developed in the twentieth century as a means of monitoring an organization’s *risks, *internal controls, procedures, and *management accounting. As *corporations and *public sector organizations became increasingly complex… …   Auditor's dictionary

  • internal audit — An audit that an organization carries out on its own behalf, normally to ensure that its own internal controls are operating satisfactorily. Whereas an external audit is almost always concerned with financial matters, this may not necessarily be… …   Accounting dictionary

  • internal audit — An audit that an organization carries out on its own behalf, normally to ensure that its own internal controls are operating satisfactorily. Whereas an external audit is almost always concerned with financial matters, this may not necessarily be… …   Big dictionary of business and management

  • internal audit — vidaus auditas statusas Aprobuotas sritis auditas apibrėžtis Nepriklausoma ir objektyvi tikrinimo, vertinimo veikla, skirta vertinti audituojamo subjekto rizikos valdymui, vidaus kontrolės sistemai ir padėti audituojamam subjektui įgyvendinti… …   Lithuanian dictionary (lietuvių žodynas)

  • internal audit — vidaus auditas statusas Aprobuotas sritis auditas apibrėžtis Viešojo juridinio asmens vidaus kontrolės sistemos dalis, kai vidaus auditorių nepriklausoma, objektyvia tyrimo, vertinimo ir konsultavimo veikla siekiama užtikrinti viešojo juridinio… …   Lithuanian dictionary (lietuvių žodynas)

  • internal audit — vidaus auditas statusas T sritis Gynyba apibrėžtis Auditas, atliekamas organizacijos audito padalinio auditorių. atitikmenys: angl. internal audit šaltinis NATO mokymų ir pratybų finansavimo terminų žodynas AAP 43(1), 2009 …   Lithuanian dictionary (lietuvių žodynas)

  • internal audit — internal inspection; inspection of one s accounts or other business transactions by one s own accountant …   English contemporary dictionary


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