BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Internal audit of the financial statements of the organization is always considered better as compared to the external audit, this is so because internal auditor knows clearly about the employees, their departments and divisions of labour to be done in the organization.

Detailed explanation-2: -The process of performing an internal audit, compared to the external audit, provides more opportunity for participants to understand how their jobs, departments and divisions fit into the whole organization.

Detailed explanation-3: -The process of performing an internal audit closely parallels the process of performing an external audit. Representative managers and employees from throughout the firm need to be involved in determining a firm’s strengths and weaknesses.

Detailed explanation-4: -The fifth major area of internal operations that should be examined for specific strengths and weaknesses is research and development (R&D). Many firms today conduct no R&D, and yet many other companies depend on successful R&D activities for survival.

Detailed explanation-5: -Organizing includes all those managerial activities that result in a structure of task and authority relationships, such as organizational design, job specialization, job descriptions, span of control, coordination, job design, and job analysis.