Title

Internal Auditing Report

Date of Award

1987

Document Type

Thesis

Degree Name

Master of Science in Accounting

Department

Accounting

First Advisor

Robert McDonald

LCSH

Auditing,Internal, Industrial management--Accounting

Call No. at the Univ. of New Haven Library

AS 36 .N29 Acc. 1987 no. 2

Abstract

Auditing provides essential information to those people who need to make sound financial decisions and to those who need to know the financial reports are accurate.

Years ago the internal auditor's primary function consisted of financial audits and attesting to their accuracy and completeness. Today, internal auditors are devoting more of their time to nonfinancial audits. They evaluate controls, check compliance with policies and procedures, test reporting systems in the nonfinancial areas of corporate operations, and now in many companies are providing evaluations of how efficiently and economically management utilizes its resources and achieves its objectives.

Internal auditing has invested a great deal of effort in computer operations within the past several years. Stories of computer thefts and frauds have caused internal auditing units to develop a more effective EDP auditing capability. Specialists with programming experience have been added to auditing staffs and in a number of companies all auditing personnel receive some training in EDP auditing.

Internal auditing is expanding and growing with each passing day. Internal auditors are responsible for more than the performance of audit assignments. They are now required to be well versed with disciplines and fields of study far beyond what was accepted practice at the start of the '70s.

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