Corporate audits are an integral part of conducting business and are a legal requirement in many countries. The concept explains the types of audits that companies use, the strengths and drawbacks of these, in addition to providing case studies of auditing from across different industries and sectors.
Corporate Audits Definition
Corporate audits assist in the processes of corporate accountability, control and governance and provide reassurance to users of annual financial reports (Lee, 2007). Auditors must state that these represent a true and fair view, and they show relevant and reliable accounting information under the provisions of the FASB (US GAAP), IASB (IFRS), or ASB (UK). The concept of auditing covers non-financial areas also, such as social audits (CSR) and performance audits (economy, efficiency and effectiveness) (Drewry et al., 2005).
Corporate Audits Description *
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Corporate Audits Strengths *
Corporate Audits Weaknesses *
Examples of Corporate Audits *
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Corporate Audits Implementation *
Success Factors of Corporate Audits *
Measures of Corporate Audits *
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Corporate Audits Videos *
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Corporate Audits Web Resources *
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Corporate Audits References (4 of up to 20) *
- Ackman, D. (2002). Arthur Andersen Offers Settlement. Forbes, Feb 28. Available at: http://www.forbes.com/2002/02/28/0228topnews.html.
- Barker, A., Hughes, J. (2011). Big audit firms face Brussels onslaught. FT.com, Sep 26. Available at: http://www.ft.com/intl/cms/s/0/5d128f0a-e863-11e0-8f05-00144feab49a.html#axzz1ktDjqU4h.
- Basu, S.K. (2009). Fundamentals of Auditing. Pearson Education India.
- Best, N. (2009). CIMA Official Learning System Test of Professional Competence in Management Accounting, Volumen 4. Butterworth-Heinemann.
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