Explain the differences between internal and external project controls.
How are overhead expenses allocated in work packages?
Internal project controls is where the project monitoring is given to people within the organization where as external project controls is where the project management and monitoring controls are given to some external sources. Internal controls are well aware of the goals and objectives of the company whereas external control know only what the project is . External project controls are much experience in handling the projects when compared to internal project control because they are professionals and their business is project handling. There is a danger of data getting leaked with external project controls which is much less in internal project controls.
In work packages overhead expenses are calculated based on each work done or per team or per department doing that work. These expenses are divided accordingly and added to those individual units or teams in the work package so that understanding the expenses would be easy.
Explain the differences between internal and external project controls. How are overhead expenses allocated in work...
How does the work of an Internal Auditor differ from that of an External Auditor (Public Accountant)? Identify a minimum of two differences and elaborate. How is the work similar?
How does the work of an Internal Auditor differ from that of an External Auditor (Public Accountant)? Identify a minimum of two differences and elaborate. How is the work similar?
What is the difference between External Complexity and Internal complexity risk profiles in a project - discuss with examples
47. A) What are the two similarities between external auditors and internal auditors? (2 points) B) What are the two differences between external auditors and internal auditors? (2 points)
ISA240 fraud and error describe the responsibilities of both internal and external auditors in relation to fraud and error. Explain the differences between the responsibility of internal and external auditors for the prevention,detection and reporting of fraud and error.
Discuss internal factors and external factors that influence how work is organized
12. The fund internal auditors represent the interests of the organization and external auditors represent outsiders amental difference between internal and external auditing is that: b. internal auditors perform IT audits and external auditors perform financial statement audits c internal auditors focus on financial statement audits and external auditors focus on operational audits and financial statement audits d. external a. auditors assist internal auditors but internal auditors cannot assist external auditors 13. Which of the following is not an objective...
Explain the main differences between estimating the NPVs for a foreign project and pure a domestic project.
Explain the main differences between estimating the NPVs for a foreign project and pure a domestic project.
Explain how internal control work done by auditors impacts the audit risk equation. Does control risk change if the auditors are providing an opinion over internal controls? How is detection risk impacted?