Types of Internal Audits

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Types of Internal Audits by Mind Map: Types of Internal Audits

1. financial audit

1.1. Review of financial transaction reliability and integrity, accounting reports and financial statements.

2. information systems (internal control) audit

2.1. Reviews the controls of an AIS in order to test its compliance with internal control policies and procedures and its asset security effectiveness. System input and output, processing controls, backup and recovery plans, system security, and computer facilities are typically assessed in the audits.

3. operational audit

3.1. Review of the economic and productive use of resources and the achievement of objectives and goals that have been identified.

4. compliance audit

4.1. Determines whether organisations comply with the rules, legislation, practises and procedures applicable. Such audits also result in recommendations for enhancing the processes and controls used to ensure regulatory enforcement.

5. investigative audit