Month: January 2022

Introduction Generally the audit to be undertaken depends on the reason as to why the auditing exercise is required. There are quite a number of types of audits. These are:  Statutory Audits Private Audits  Internal Audits Management Audits Government Audits Read More …

Internal control system is of paramount important in any business enterprise. The following are the reasons why the system is important: Enables management to carry out the business in an orderly and efficiently Internal controls lay down the various procedures Read More …

Internal control may be defined as “the whole system of control, financial or otherwise, established by the management in order to carry on the business of the enterprise in an orderly and efficient way, ensure adherence to the management policies, Read More …

Internal control may be defined as “the whole system of control, financial or otherwise, established by the management in order to carry on the business of the enterprise in an orderly and efficient way, ensure adherence to the management policies, Read More …

A system of accounting and record keeping will only succeed if there are strong internal control systems. The purposes of these controls are: To ensure that all transactions are recorded properly Errors and irregularities are avoided Assets and liabilities are Read More …

The management of a business enterprise requires that complete and accurate accounting books and other records are maintained due to the following reasons: The business operations are easy to control when proper books and records are maintained Day to day Read More …