Impact of internal auditing function on financial reporting quality

Impact of internal auditing function on financial reporting quality

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Internal auditing is a development that is considered as an extension of the external auditing role in testing the reliability of accounting records. This contributes to the publication of financial statements. Internal auditing function influences the quality of the financial systems. This is because accuracy is improved hence influencing the confidence in the financial statements(Suryana, 2018). Moreover, internal auditors with background skills on accounting enhance competence when dealing with financial statements and hence minimizing chances of errors and negligence that may arise when generating the financial statements. Moreover, the existence of technology presents opportunities for improved quality of financial reporting. However, other aspects such as audit implementation mechanism are yet to be mastered hence influencing efficiency further….

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