Tag Archives | Corporate Development Audit

Main Evaluation Aspects of Purchase Management

This article throws light upon the three main evaluation aspects of purchase management. The evaluation aspects are: 1. Authorization for Purchase and Procurement 2. Internal Operations 3. Special Test. Purchase Management: Evaluation Aspect # 1. Authorization for Purchase and Procurement: i. Review the procedures, such as adequacy of approvals necessary for particular types of items […]

Factors Responsible for Industrial Sickness

This article throws light upon the top six factors responsible for industrial sickness. The factors are: 1. Balance Sheet Analysis for the Last 5 Years 2. Profit and Loss Account Analysis for the Last 5 Years 3. Fund Flow Statement Analysis for Last 5 Years 4. Ratio Analysis for the Last 5 Years 5. Cash […]

Evaluation of Internal Control System: 3 Parameters

This article throws light upon the three parameters for the evaluation of internal control system. The parameters are: 1. Administrative Controls 2. System Development Controls 3. Procedural Controls. Internal Control System Evaluation: Parameter # 1. Administrative Controls: (A) Division of responsibilities—between the sections like: (a) Development, (b) Data preparation, (c) Computer operation, (d) File library, […]

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