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Internal audit and its importance in the company
Vašíčková, Kristýna ; Vokáčová, Lucie (advisor) ; Kala, Václav (referee)
The aim of this work is to evaluate the usefulness of internal audit in a specific organization, which is focused on information and communication technologies. The first part of the document describes theoretical background obtained by comparation literature and Internet sources analyzing. There is also described the history of the internal audit, its importance and development, the progress of the internal audit, the final report, the types of internal audits and the difference between internal and external audit.. The second section contains conclusion of practical activities based on specific company. In the beginning, there is description of internal audit and control department, which was observed over a certain time interval. It was being studied what types of internal audits are performed in the company, how the audits are carried out, findings and deficiencies identified during internal audits and cooperation among internal and external auditors. and comparison between practice and theory. The conclusion is compared with the theory and practice of the evaluation of the situation and the internal audit function in the company. It is assessed that the internal audit in this particular company has its justified place. Their contributions are mainly in saved costs and detect errors in working practices. They were recommended only two possible improvements for a better functioning of the department. The management was advised to set up an audit committee, for greater independence of the internal audit. The second recommendation resulted from the interviews with the auditors regarding their education, where there is great potential for improving a company should consider investing in this area.
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The Use of Data Analytics in Internal and External Audit
Tecáková, Andrea ; Říhová, Zora (advisor) ; Kadochová, Lucie (referee)
Data Analytics is one of the fast-developing applications of IT in organizations worldwide. This Master's thesis examines data analytics in the context of internal and external audit. Principal aim of the thesis is to identify the opportunities for data analytics application in both audit disciplines. Secondary goal is to design a data-analytical procedure, apply it to actual business data and thus demonstrate the benefits of employing data analytics. The thesis builds on a summary of theoretical sources of the relevant area, followed by a survey conducted by the author. The survey maps current state of data analytics usage in both internal and external audit in the Czech Republic. The added value of this thesis is, apart from the identification of audit areas in which it is beneficial to use data analytics, the design of an analytical procedure and its application. Another benefit is the survey revealing current state of the art and the insights of interviewed auditors, pointing to both benefits and problems of data analytics application to the performance of the audit profession.
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Internal audit and its importance in business management
Černá, Jitka ; Pánek, Pavel (advisor) ; Michal, Michal (referee)
The bachelor thesis is oriented on the characteristics of goals and tasks of the internal audit and the assessment of its importance in the system of managing the state organization The Railway Infrastructure Administration (SŽDC). First, the theoretical basis is processed and analyzed from the literature and online sources regarding of the given issue.
The author characterizes the selected company, attention is paid to the department conducting internal audits.
On the basis of practical knowledge of the primary activities of internal auditors, the author devotes the first work methodology of the audit and subsequently selected the audited process.
Finally, the author suggests to evaluate the potential risks of internal auditing.
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External Audit of Company Financial Statements
Šímová, Monika ; Stárová, Marta (advisor) ; Miluše, Miluše (referee)
This work includes theoretical information relating to the audit of financial statements. There are documented criteria for auditors and regulations that auditors must comply. Likewise, there are described mandatory requirements that auditors must meet to perform the audit work. Finally, it is pointed out the relationship of accounting and auditing. The practical part describes the work of the auditor from the first acquaintance with the business race to the auditor's report, together with a statement on the financial statements or the auditor's opinion on the audited financial statements.
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Evaluation of the management system in the company after the introduction of new software
Lalák, Jan ; Římovská, Pavla (advisor) ; Tomáš, Tomáš (referee)
This study evaluates systém of the control the company. It is trade - sold company that is member of international holding structure. The system of the control contains reports from controlling, external and internal Audit. Every komponent of the kontrol systém is detailed described in relation in the new implemented software and consequently evaluated. The implemented systém was found as applicable in the business life however in the end of the work are input recommendation for improvement and higher effectivity of the whole system.
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Audit of banking institutions in the Czech Republic
Ognev, Denis ; Brada, Jaroslav (advisor) ; Kubát, Max (referee)
This diploma thesis deals with external audit of banks in Czech Republic. The main objective of this thesis is to describe in detail the techniques, strategy and methods which are used by the external auditor during the engagement and to compare them with those used in internal audit. The main emphasis during the stage of interim audit is put on control of risk management activities. The first part of this diploma thesis is devoted to theoretical issues and legal aspects of audit profession. Specific characteristics of banking institutions audit including major risks and the scope of external auditor's activities are described in the second chapter of the thesis. Third part describes the main stages, used methodology and the process of external audit of banking institutions. Last chapter is devoted to a brief description of the internal auditor's activities in the bank and their comparison with the external audit.
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Nature, interconnections and differences of external and internal audit
Jindřichová, Monika ; Müllerová, Libuše (advisor) ; Černý, Václav (referee)
The goal of this diploma thesis, which is related to the nature, interconnections and differences of external and internal audit, is to bring interested persons closer to the reason for inception of external and internal audit and to define their position and importance in 21st century. Approximation of both audit's contents and going, with regard to their goals, is naturally also a part of work. A piece of work is particularly devoted to external and internal auditor's personality and thus to personal and professional demands for such profession. Not forgotten is the legal adaptation of both audits and it is explain, which audit is under more strict adaptation and why. In the thesis conclusion is located an external-internal auditor comparison summary, together with practical part with examples, that are helpful for better understanding risks of auditor profession and with such disciplines and why internal audit is confused with them.
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Professional liability of the external and internal auditors
Králová, Jana ; Molín, Jan (advisor) ; Králíček, Vladimír (referee)
The diploma thesis focuses on professions of external and internal auditors. The aim of the thesis is to describe the professional liability of studied professional occupations. This issue is solved from the perspective of the Czech Republic. In the first part the thesis characterizes auditing activities and the Chamber of Auditors of the Czech Republic. It describes requirements of the profession of external auditor and focuses on his workflows. It also characterizes the internal audit and the Czech Institute of Internal Auditors. The thesis describes requirements of the profession of internal auditor and focuses on his workflows. The main part of the thesis defines the professional liability of the external and internal auditors and separately describes the criminal liability of auditors. The last part of the thesis contains a comparison of the discovered information and it also describes selected practical examples of violation of the professional liability of auditors.
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Materiality and her role in the audit (external and internal)
Špániková, Jana ; Dvořáček, Jiří (advisor) ; Tondlová, Markéta (referee)
This thesis analyzes the materiality, as an important part of the audit. The main goal is to show the individual areas of the audit, which the materiality touches and illustrate its impact. The theoretical part describes the history, legislation, terminology and methodology used in the audit with regard to materiality. Thesis also includes a practical example that illustrates the application of materiality on audit unnamed real company.
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System of audits in a selected company
Kocíková, Lenka ; Dvořáček, Jiří (advisor) ; Hegedusová, Monika (referee)
The thesis is devoted to analyze the system of various types of audit in the selected company. It explains the need to perform regular internal audit in large companies. This thesis includes theoretical preconditions for successful functioning of the audit system in the company and the analysis of a particular system in a large company in the automotive industry. Based on the analysis it suggests measures that lead to more effective performance of activities related to audits and its actual implementation. The aim is to explain the differences between the various types of audits, to analyze the existing system in the selected company and propose a new solution.
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