Administration Manual - B.E.S.T. Undertaking.

the General Manager.
Undertaking’s work: Restriction on Building or other
works interfering with
460 G
Vacancies in Committee: Filling of 50 C
Wages of Employees: Recovery of Rent through 105 D
Paysheets in respect of Undertaking’s property
Withdrawal and Institution of Claims 517
Works: Power of Access to 60 B
Works: Power for Renewing of , Repairs to 460 C
Works of Undertaking: Restriction on Building or other
Acts interfering with
460 G
1.1
Definition
INTRODUCTION
1 In early days, Internal Audit confined itself to checking
petty cash transaction and later on to the accounting
aspect of the Undertaking’s Business. However, gradually
as the Commercial and Industrial Development started;
the roll of an Internal Audit automatically expanded to
cover up auditing of various transactions and to increase
the productivity, decrease cost and obtain better results
on the capital investment, by giving valuable suggestions
during the force of Audit. The responsibility of Internal
Audit thus, is increase tremendously and is an important
tool of management to keep a close control as the
business activities carried out by the management. Thus
the Internal Audit now operates in non-accounting fields
also.
The modern definition of Internal Auditing is that “Internal
Auditing is more than mere mathematical checking or
routine examination of Accounts. It comprises a complete
intracompany financial and operation review”.
Internal Auditing is an independent appraisal activity
within an organization for review of the accounting,
financial and other operations as a basis for protective
and constructive service to Management. Its functions by
majoring and evaluating effectiveness of types of controls
and though it primarily deals with accounting and
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