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Finding and Reporting Irregularities in Internal Audit

Author

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  • DUMITRU Franca

    (†Tibiscus†University of Timisoara)

Abstract

The intervention on the spot phase consists in collecting documents, reviewing and evaluating the activity and contains the following procedures: Collecting evidence, Finding and reporting irregularities; Reviewing working documents; Closing session. When auditors find frauds, errors that have a significant impact, breach of legal rules or approved procedures, the top management of the entity must be informed in a very short period. These findings are recorded in the "Form for finding and reporting irregularities (FFRI) which contains: the deviation noted; the normative act or violated procedures; recommendations for further verifications; appendices that prove the accusations.

Suggested Citation

  • DUMITRU Franca, 2013. "Finding and Reporting Irregularities in Internal Audit," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 242-247, May.
    • Handle: RePEc:tdt:annals:v:xix:y:2013:p:242-247
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    File URL: http://fse.tibiscus.ro/anale/Lucrari2013/Lucrari_vol_XIX_2013_040.pdf
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    More about this item

    Keywords

    internal audit; audit procedures; collecting evidence;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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