5. Advantages Of Audit
Proof in court
Helpful in assessment of wealth tax
Actual position of business
Frauds and errors
Valuation of business
Helpful in assessment of tax
Helpful for dividend and bonus plan
Availability of valuable suggestions
6. Types Of Internal Audit
finance audit
Management audit
Compliance audit
Systems audit
Investigation audit
Information systems audit
7. Purpose of internal audit
Physical examination and verification
Review of accounting
Examination of management
Examination of the economy