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ABSTRACT
A STUDY ON INTERNAL CONTROL AND INTERNAL
AUDIT ROLE OF INDEPENDENT AUDITORS
Internal control is broadly defined
AS
a process, effected by an entity‟s board of
directors, management and other personnel, designed to provide reasonable assurance
regarding the achievement of objectives in the following categories: - Effectiveness and
efficiency of operations. - Reliability of financial reporting. - Compliance with applicable
laws and regulations. Internal Auditing is an independent, objective assurance and
consulting activity designed to add value and improve an organization's operations.
In this study, the importance of the independent audit of internal control and internal
audit has been emphasized after reviewing in detail the concepts of internal control, internal
audit and independent audit
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