Here is the complete Internal Audit Cycle (IAC) .
Every auditor should be familiar with this audit cycle.
This is applicable to the audit of all sectors and industry.
As you can see it is an on going process,so it must be followed sequentially .
After understanding this cycle , you will better perform your assignments.
This Audit Cycle clearly shows three steps to be taken by all auditors.
- How to start .
- How to process.
- How to finalize
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