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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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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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External audit of commercial banks in the Czech Republic
Ágošton, Peter ; Teplý, Petr (advisor) ; Rybák, Zdeněk (referee)
This master thesis deals with the area of commercial bank's external audit in the Czech Republic. Its main goal is to highlight the different techniques and specific procedures which are used during statutory audit of commercial bank. Another goal of this master thesis is to investigate of a linear dependence between count of changes of auditors and selected commercial bank's performance indicators. In the first part we could find a general framework of the external audit with emphasis on legal aspects. The second part describes differences between bank and non-banking institution. The third part of this master thesis deals with a description of audit phases with emphasis on the interim audit phase at which the author of this master thesis was a part of audit providing team. The final part investigates the linear dependence between count of changes of auditors and selected commercial bank's performance indicators.
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External and internal audit in practice
Zadáková, Veronika ; Roubíčková, Jaroslava (advisor) ; Müllerová, Libuše (referee)
This thesis deals with external and internal audit in practice. It contains historical evolution and progression of internal and external audit, their functions and goals as well as risks and frauds in audit and its legislation. Significant section of this thesis focuses on working procedures in internal and external audit. These procedures are divided by audits phases. The main goal of this thesis is to transfer theoretical knowledge into practice. In the practical part there is performed fictitious internal and external audit in company Thomas Cook Ltd.
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The Benefits of External and Internal Audit
Vašíčková, Lucie ; Roubíčková, Jaroslava (advisor) ; Černý, Václav (referee)
The thesis deals with external and internal audit and is mainly focused on the benefits of both audits. The historical evolution, the definition and nature of external and internal audit are gradually introduced in the theoretical part. There are also featured the Czech and international legal regulations of both audits. The relationship between external audit and accounting is described, and then in the case of internal audit, it is the relationship between internal audit and internal control. One entire chapter is devoted to the comparison and partnership of the external and internal audit. In the practical part three companies, which are obliged to do external audit and which have also created an internal audit department, are presented. The attention is paid to the information about both audits that are published in the company annual reports. The benefits of external and internal audit are described from the perspective of the company and the users of audit results.
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External audit in banking sector and its relations with regulatory and supervisory authorities
Kadlčková, Šárka ; Blahová, Naděžda (advisor) ; Marková, Jana (referee)
This master thesis deals with the area of external audit of banks and its relations with regulatory and supervisory authorities. Its goal is to identify and describe the specifics, which differs bank's financial statements audit from audit of other non-banking institutions, and discuss cooperation between external auditors and supervisory authorities. The first section defines the general framework of the external audit with an emphasis on legal aspects. In the second part are described the phases of the common audit procedures. The third section defines the characteristics of banking institutions and describes the specifics of audit methodology and procedures applied during the audit of the bank. The final part discusses the role, responsibility and cooperation of banks, external auditors and regulatory and supervisory authorities.
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