Mehta Tubes Lab Assistant Interview Questions and Answers

A walkthrough is a method used in internal audit to review and assess the effectiveness of controls and processes.

• A walkthrough involves following a transaction or process from start to finish, examining the controls in place and identifying any weaknesses or gaps.

• It helps auditors gain an understanding of how a process works and how controls are implemented.

• During a walkthrough, auditors may interview employees, revie...read more

Internal control refers to the processes and procedures implemented by management to ensure the achievement of objectives, while internal audit is an independent function that evaluates the effectiveness of internal controls.

• Internal control is a system put in place by management to safeguard assets, ensure accuracy of financial records, and promote operational efficiency.

• Internal audit is an independent function that ...read more