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How Internal audit is different from Risk based internal audit?

Answer:

A risk base internal audit is latest approach to ensure best practices aiming at maximizing the impact of audit by focusing on the major strategy ,regulatory, financial and operation risk that confront an organization while internal audit is traditional independent examination of financial and operation of an organization to ensure economic,effective and efficiency utilization of an organizations resources

First answer by ID0700318350. Last edit by ID0700318350. Question popularity: 1 [recommend question].

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Relevant answers:

Internal audit and external audit?
An Internal Audit department generally focuses on operational and compliance risks within an organization while an external audit focuses on the accuracy of the financial information presented.
What is Internal audit an external audit?
Internal audit is conducted by people from within the company. This is also known as first party audit. External audit is conducted by an independent party. Second or third party audits are external...
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According to The IIA which oversees the profession of internal auditors, it is defined as an independent, objective assurance and consulting activity designed to add value and improve an...
Is the audit committee part of internal audit?
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Where can you do internal audit training?
in school