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Internal audit and Outsourcing

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Internal audit and Outsourcing

Internal audit vs. Outsourcing

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. In business, outsourcing is an agreement in which one company contracts its own internal activity to a different company.

Similarities between Internal audit and Outsourcing

Internal audit and Outsourcing have 5 things in common (in Unionpedia): Audit, Business process, Risk management, Sarbanes–Oxley Act, United States.

Audit

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern.

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Business process

A business process or business method is a collection of related, structured activities or tasks that in a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers.

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Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinator and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

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Sarbanes–Oxley Act

The Sarbanes–Oxley Act of 2002, also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and "Corporate and Auditing Accountability, Responsibility, and Transparency Act" (in the House) and more commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law that set new or expanded requirements for all U.S. public company boards, management and public accounting firms.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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The list above answers the following questions

Internal audit and Outsourcing Comparison

Internal audit has 50 relations, while Outsourcing has 130. As they have in common 5, the Jaccard index is 2.78% = 5 / (50 + 130).

References

This article shows the relationship between Internal audit and Outsourcing. To access each article from which the information was extracted, please visit:

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