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Carry out the monitoring activities on internal controls implemented in the organization as per listed below procedures and prepare an evaluation of internal controls and communicate the
deficiencies identified during the evaluation of internal controls. you can prepare an Internal Audit report for communicating the internal control deficiencies identified.
Objective:
1) Ensure that capital expenditure are justified and valid.
2) Ensure that all assets are properly identified and correctly recorded.
3) Ensure that determination of depreciation is in compliance with the company's policy as well as statutory requirement.
4) Ensure that all assets are appropriately recorded and disclosed according to the statutory requirement.
5) Ensure that all appropriate measures are taken for safeguard of assets.
6) Ensure that all assets are purchased for business purpose.
7) Ensure that disposal and write offs of respective assets are appropriately and accurately reflected.
8) Ensure that all assets are recorded in relevant financial period