Audit Internship Weekly Reports

Audit Internship
Weekly Reports
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Contents
Week: 1...........................................................................................................................................3
Week: 2...........................................................................................................................................5
Week:3............................................................................................................................................7
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INTRODUCTION
Auditing is comprehensive and objective analysis of a firm's documents, claims, reports,
activities and results (financially or otherwise) for a specified reason. The Auditor
considers and acknowledges the proposals before for investigation in any auditing
scenario, collects evidences, evaluates same and, on these grounds, establishes his
judgments which is conveyed thru audit report (Ngoepe and Ngulube, 2016). The study
contains week reports of internship which specifies the tasks, objectives and key finding
related to audit of firm.
Weekly Report
Internship
Week:
1
Specific description of:
Your duties this
week.
 To verify that all the relevant transactions are correctly entered in
accounts books or not.
 To determine whether historical evidences confirms documented
transactions or not.
 Validate that all documented evidences are authenticated only in
relation to the business transactions.
 To evaluate whether transactions are irregularities or fraudulent
free.
 To ensure that the vouchers are correctly handled in all internal
control system stages.
New task this
week.
 Data compilation and review for the detection of inadequate
supervision, duplication of activity, extravagance, theft or violation
of laws , rule and policies.
 Check and confirm whether entries are recorded as per capital and
revenue type or not (Santos, Inácio and Marques, 2019).
 Verify the exactness of accounting entries and transactions.
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 Report and suggest recommendations to procedures and financial
practices to managers on asset usage and audit performance.
 In order to report transactions, audit account records and
accounting processes for reliability, consistency and the application
of accepted accountable practices.
 In event of negligent misstatement in vouching process, Auditor will
be held accountable; if he done so carelessly, he could not
withdraw from his responsibility.
Application of
technical
knowledge and
skills in workplace
tasks with
effective results.
 Ensures enforcement by reviewing documents, reports, business
processes and documents of existing internal control system.
 Checks assets and liabilities through matching records with items.
 Finishes documentation of audit by checking reports and findings.
 The appropriateness of internal management mechanisms is
measured by execution of examination questionnaires.
 Conforms by reviewing existing and emerging safety regulations
with federal and municipal security regulatory requirements;
enforces compliance with requirements; informs management on
appropriate steps.
 Prepare separate evaluation and monitoring reports of data and
patterns compiled, analyzed and summarized.
 Prepare, review and check annual accounts, balance sheets and
other documents that use approved budgeting that reporting
planning information techniques.
Your personal
insights into the
week (learning,
new experience...
etc)
Following are key insights into this week, as follows:
 An auditor does never opt to carry out a performance review
without an appropriate internal management mechanism in the
company.
 Cash purchase shouldn't ever be reported twice, as in cash
purchasing first, and secondly in credit purchase.
 For a predetermined time-period the vouching must be
completed at once in single sitting.
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