The principles of internal control include guarding assets from disposal, acquisition, and theft or unauthorized use. Efficient operations, compliance with regulations, and thorough and accurate financial reporting are a... More »

Financial audits, system audits, process audits and tax audits are among the types of audits noted by and the American Society for Quality. Regardless of type, audits are either external, conduc... More » Business & Finance Business Resources Accounting

To write an engagement letter for auditing, determine the extent of services to be provided, set the period for conducting audit fieldwork, and specify the costs and fees, instructs the Houston Chronicle. Moreover, inclu... More » Business & Finance Business Resources Accounting

The internal growth rate of a firm is calculated by subtracting its rate of earnings retention from its return on assets, according to Boundless. A company's return on assets is derived from dividing its net income by it... More »

An internal auditor provides independent assurance that an organization's internal control processes, governance and risk management are operating effectively, according to the Chartered Institute of Internal Auditors. T... More »

Efficiency ratios are various types of ratios that determine how well a company uses its assets and resources to make a profit. Different types of efficiency ratios include the accounts receivable and accounts payable tu... More » Business & Finance Financial Calculations

Net fixed assets are calculated with the following formula: fixed asset purchase price + additions to existing assets - accumulated depreciation - accumulated asset impairment - liabilities associated with the fixed asse... More »