Finding and Reporting Irregularities in Internal Audit

Franca Dumitru
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Franca Dumitru: †Tibiscus†University of Timisoara

Anale. Seria Stiinte Economice. Timisoara, 2013, vol. XIX, 242-247

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.

Keywords: internal audit; audit procedures; collecting evidence (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2013
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