The Impact of Internal Auditing on the Telecommunication Industry
PROPOSAL
INTRODUCTION
The main reason of the project work is to allow students to identify a problem of their own choice relating to their field of study and suggest how these problems may be solved at the end of project.
It is in this respect that the writer has chosen this topic: The impact of Internal auditing in the telecommunication industry with Vodafone Ghana Limited as the case study.
1.0 BACKGROUND OF THE STUDY
Mautz and Sharaf (1961) defines auditing as a systematic process of objectivity; obtaining and evaluating evidence against assertion and established criteria and commence communicating the results to interested users. Internal auditing is an independent appraisal functions established within an organization to examine, review and evaluate operations as a service to management. The internal audit department is an internal part of the organization and function under the policies established by management. An audit is not limited to the review of the management process in the accounting and financial areas alone. All department of the organization must be managed so that all can benefit from an independent objective review. The scope of internal audit spans the review of all the functions of the organization. It includes technical, commercial and financial aspects that are secured, accounted for and managed within the organization.
Moreover, the internal audit department implies that, the internal audit department should report not only on the accounting systems but on all aspects of the business. The internal audit department can operate as an effective managerial control.
Firstly, it can examine the systems and controls introduced by management to ensure that they are being followed correctly.
Secondly, it can review the efficiency of those systems and control and also advice on possible improvements them. The auditor after successfully conducting an audit produces a report which is addressed to the
INTRODUCTION
The main reason of the project work is to allow students to identify a problem of their own choice relating to their field of study and suggest how these problems may be solved at the end of project.
It is in this respect that the writer has chosen this topic: The impact of Internal auditing in the telecommunication industry with Vodafone Ghana Limited as the case study.
1.0 BACKGROUND OF THE STUDY
Mautz and Sharaf (1961) defines auditing as a systematic process of objectivity; obtaining and evaluating evidence against assertion and established criteria and commence communicating the results to interested users. Internal auditing is an independent appraisal functions established within an organization to examine, review and evaluate operations as a service to management. The internal audit department is an internal part of the organization and function under the policies established by management. An audit is not limited to the review of the management process in the accounting and financial areas alone. All department of the organization must be managed so that all can benefit from an independent objective review. The scope of internal audit spans the review of all the functions of the organization. It includes technical, commercial and financial aspects that are secured, accounted for and managed within the organization.
Moreover, the internal audit department implies that, the internal audit department should report not only on the accounting systems but on all aspects of the business. The internal audit department can operate as an effective managerial control.
Firstly, it can examine the systems and controls introduced by management to ensure that they are being followed correctly.
Secondly, it can review the efficiency of those systems and control and also advice on possible improvements them. The auditor after successfully conducting an audit produces a report which is addressed to the