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Essay / Research Paper Abstract
This is a 5 page paper that provides an overview of internal auditing. The role of the Institute of Internal Auditors is emphasized. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: KW60_KFintau2.doc
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Unformatted sample text from the term paper:
industry or market. It is especially important in regards to accounting practices, as unchecked errors in accounting can be completely catastrophic for an organization, leading to unplanned debt, the formulation
of unsustainable strategic processes, or severe legal and financial liability. Auditing enables an organization to conduct a thorough assessment of the integrity of its processes and accounting in order to
have confidence going forward and to avoid unforeseen obstacles. So important is auditing to organizations that many organizations have developed in order to facilitate the commodity of high quality auditing
services. These include high profile external auditing services such as the infamous Arthur Andersen, as well as smaller organizations devoted to the cultivation of auditing skills internally, within an organization.
This paper will explore the role of the Institute of Internal Auditors in promoting internal auditing. This paragraph helps the student present a summary overview of the Institute and
what they do. The Institute of Internal Auditors was founded in 1941, and since then has grown into an international association with branches in a number of countries (Institute of
Internal Auditors, 2011a). By their own description, the organization is "the internal audit professions global voice, recognized authority, acknowledged leader, chief advocate, and principal educator" (Institute of Internal Auditors, 2011a).
As such, the Institute provides a number of critical services including auditing services, but their primary role within the industry itself is to act as an advocate for the use
of internal auditing services, and to develop and distribute standards for audit quality that carry a significant guarantee of accuracy (Institute of Internal Auditors, 2011a). The ultimate goal is to
make internal auditing a "global profession" such that the values derived from internal auditing can be experienced on the international stage (Institute of Internal Auditors, 2011a). One of the
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