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NCJ Number: 68947 Find in a Library
Title: INTERNAL AUDITING IN FEDERAL AGENCIES - BASIC PRINCIPLES, STANDARDS AND CONCEPTS
Author(s): ANON
Corporate Author: US Government Accountability Office
United States of America
Date Published: 1974
Page Count: 33
Sponsoring Agency: National Institute of Justice/
Rockville, MD 20849
Superintendent of Documents, GPO
Washington, DC 20402
US Government Accountability Office
Washington, DC 20548
Sale Source: Superintendent of Documents, GPO
Washington, DC 20402
United States of America

National Institute of Justice/
NCJRS paper reproduction
Box 6000, Dept F
Rockville, MD 20849
United States of America
Document: PDF
Language: English
Country: United States of America
Annotation: BASIC PRINCIPLES OF INTERNAL AUDITING FOR FEDERAL AGENCIES ARE STATED BY THE GENERAL ACCOUNTING OFFICE (GAO), INCLUDING BENEFITS, MANAGEMENT, AND REPORTS.
Abstract: AFTER A DISCUSSION OF THE ROLE OF THE INTERNAL AUDIT, THE BOOKLET NOTES RELEVANT FEDERAL REGULATIONS AND LAWS. IN ORDER TO APPRAISE PERFORMANCE, THE SCOPE OF THE AUDIT SHOULD ENCOMPASS THREE MAJOR AREAS: AN EXAMINATION OF FINANCIAL TRANSACTIONS, ACCOUNTS, AND REPORTS; A REVIEW OF EFFICIENCY AND ECONOMY IN THE USE OF RESOURCES; AND AN ASSESSMENT OF PROGRAM RESULTS. THE INTERNAL AUDITOR'S PROFESSIONAL QUALIFICATIONS AND LOCATION IN THE ORGANIZATIONS ARE DESCRIBED, EMPHASIZING THAT THE AUDITOR SHOULD REPORT TO THE HIGHEST PRACTICAL ORGANIZATIONAL LEVEL. GUIDELINES CONCERNING MANAGEMENT OF THE INTERNAL AUDIT COVER PROFESSIONAL STANDARDS, AN AUDIT MANUAL, PLANNING, SUPERVISION, AND DOCUMENTATION. THE FORM, DISTRIBUTION, TIMELINESS, AND CONTENT OF AUDIT REPORTS ARE DETAILED. THE BOOKLET ALSO STATES THAT INTERNAL AUDITORS SHOULD FOLLOW-UP THEIR RECOMMENDATIONS TO DETERMINE IF CORRECTIVE ACTION HAS BEEN TAKEN. FINALLY, THE RELATIONSHIP OF INTERNAL AUDITING TO CONTRACT AUDITS PERFORMED BY AGENCIES AND TO THE GAO IS EXPLAINED. THE APPENDIXES CONTAIN A SUMMARY OF 1972 GOVERNMENTAL AUDIT STANDARDS AND EXCERPTS CONCERNING INTERNAL AUDITS FROM A 1963 HOUSE OF REPRESENTATIVES REPORT ON EFFICIENCY AND ECONOMY IN THE DEPARTMENT OF COMMERCE. (MJM)
Index Term(s): Auditing standards; Audits; Federal government; Federal programs; US Government Accountability Office (GAO)
To cite this abstract, use the following link:
http://www.ncjrs.gov/App/publications/abstract.aspx?ID=68947

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