Audit of Accounts refers to an objective examination, scrutinization, and evaluation of the financial statements of a particular organization. The process aims to ensure that an organization is maintaining accurate and fair records of the transactions.
Effective Internal Audit involves working in accordance with the Code of Ethics and International Standards with an objective and professional view. Internal Audit adds value to an organization by improving the operations within. The role of internal auditors includes assessing, monitoring and examining organizational risk along by making sure that the provided information complies with the laws and policies.