Internship report in auditing

Internship report on accounting practices

Next to Him are my both parents who had always support and being understanding while I am doing practical training. Investment Property Investment property is property land or a building — or part of a building or both held by the owner or by the lessee under a finance lease to earn rentals or for capital appreciation or both, rather than for use in the production or supply of goods or services or for administrative purposes or sale in the ordinary course of business. Manasseh,pg 2. The audit will be focused in reviewing the policies and controls around acquiring investment properties, depreciating investment properties that are carried at cost, measurement of investment properties that are carried at fair value, management of investment properties as well as the disposal of the investment properties. First thing that I have to prepare is the audit file for the legal company. To fully combat the problem of tax defaulting among taxpayers. I was able to exceed this goal by working with the IT department to design and create a program management module for the program managers. The European literature review on internal auditing. For the part on audit fee, it will be fixed every year. But before interview they conduct test from them. This will help them to have strong internal audit department and this will increase the confidence of the donors, government since they will ensure the best use of their financial assistance. Internal check and internal control According to VK Batra and KV Bagardia, they differentiate them in this way, where internal check refers to the check imposed on the day-to-day transactions where by the work of one person is checked independently by another person, the object being the prevention and easily detection of errors and frauds. All reports should contain a summary that cover all important issues outlined in the report.

Whichever is higher between total assets and gross revenue, it will be used as the audit fee for the company. The change logo shall be reflected change in attitude, service delivery, opportunities, best practices and approaches of the tax administrators towards taxpayers.

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We will write a custom sample essay on Internship Report in Auditing Order now In the management of government institutions like other companies, general directors or managers set objectives and formulate strategies. It also provides an assurance o senior management, the Rwanda Revenue Authority Board of Directors and the Ministry of Finance and Economic planning that the systems of controls in Rwanda Revenue Authority are operating efficiently and effectively.

Its clients include plantation, housing developers, shipping, trading, construction and manufacturing companies, co-operative societies, solicitor and many other industries and businesses.

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It will affect the duration for the auditor to complete the task as their need to make many adjustment and reclassification. Provision of equitable services to taxpayers hence strengthening the culture of the voluntary tax compliance among taxpayers.

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Next, I have to ensure that each particular asset have been recorded at the correct amounts in order to test the accuracy assertion. Investment Property Investment property is property land or a building — or part of a building or both held by the owner or by the lessee under a finance lease to earn rentals or for capital appreciation or both, rather than for use in the production or supply of goods or services or for administrative purposes or sale in the ordinary course of business.

Quality Assurance Department: to provide assurance on the effectiveness and efficiency of the operating of the internal control systems as well as promoting staff integrity.

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Hasbi and Mr. It has ,therefore, become necessary for the management of such organizations to have a team of specialists to review the procedures and operations of various units and report cases of non-compliance, inefficiency and lack of control, so that necessary action can be taken. Managers use many different techniques of control to ensure better management of their organization. Not to forget, a big thanks to our audit manager, Mrs. This is indicative of the growth that both we and our clients enjoy. I was able to exceed this goal by working with the IT department to design and create a program management module for the program managers. It also provides an assurance o senior management, the Rwanda Revenue Authority Board of Directors and the Ministry of Finance and Economic planning that the systems of controls in Rwanda Revenue Authority are operating efficiently and effectively. If there are items in the inventory that are of unusually high value, I will spend extra time counting that inventory, ensuring that they are valued correctly, and tracing them into the valuation report that carries forward into the inventory balance in the general ledger. Author: Susan Hass, Mohammad, volume: 21 Issue:8 , keywords: auditors, north American, internal audit, knowledge management, reports. Quality Assurance Department: to provide assurance on the effectiveness and efficiency of the operating of the internal control systems as well as promoting staff integrity. Auditing normally involves examining of books of account and vouchers of a taxpayer by a qualified revenue officer so as to ascertain whether the taxpayer has accurately considered revenue and expenses when determining the taxes shown in the declarations as per the requirements of the tax laws. A complete audit report need to be reviewed first by the audit officer then it will be reviewed once more by the person in charge in KL branch through email. The common mistake that I have encountered during 6 months internship is many of the client did not separate the land and building value and record it as once. The different auditing this type of company is that it will be in Bahasa Malaysia. There is much more test need to be done in a different type of situation, but I have not yet managed to do it since there is no client required such test such as intangible assets movement where I have to test the reasonableness of the accumulated impairment in order to ensure the accuracy criteria.
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Internship Report in Auditing