Talk like an Internal Auditor || Key terms for building IA vocabulary

Talk like an Internal Auditor || Key terms for building IA vocabulary

Three years ago after clearing my CA Final examinations, I was desperately searching for some practical reference material and guidance for Internal Audits relevant for India. Lots of information is available on the internet but practical experiences and tips were what I was looking for.

I have shared key terms and explanations in Hinglish for your reference.

We hope that it would be useful for freshers who want to apply for jobs in this role or want to increase their knowledgebase.

00:00 Introduction
00:39 Maker Checker
01:34 Segregation of Duties (SoD)
03:05 Internal Control & Risk
07:30 Standard Operating Procedures (SOP)
09:31 Internal Audit
12:26 Risk Management (ERM)
15:36 Internal Control over Financial Reporting (ICFR)
17:42 Internal Financial Control (IFC)
19:49 Sarbanes Oxley Act, 2002 (SOX)
20:17 COSO Internal Control Framework
23:30 Risk and Control Matrix (RCM)
27:17 Other Terms (MRC, IPE, Top-Down Risk Assessment, Preventive, detective manual and automated controls, Materiality, Design deficiency, System deficiency, Test of Design (TOD), Test of Operating Effectiveness (TOE), Process Narratives and Flowcharts, Sampling
34:09 Conclusion

Contact: +91 9990560436 (Gaurav)

LinkedIn:
Gaurav Goel:   / gauravgoel95  


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