How do I conduct an internal audit?
To conduct an internal audit, start by defining the scope and objectives. What specific areas do you want to audit?
I want to focus on financial processes and compliance.
Great! Next, gather relevant documents and data. Have you collected all necessary financial records?
Yes, I have the last three years of financial statements.
Perfect! Now, analyze the data for discrepancies and compliance issues. Do you have a checklist to guide your analysis?
Not yet, can you suggest what to include in the checklist?
Sure! Include items like accuracy of financial statements, adherence to policies, and risk management practices.
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