The Internal Auditor position was created, as a result of a rapidly growing American economy, in the mid twenty century. The developing American economy, also known as the golden years, included inappropriate business practice. These practices included, but not limited to, stock manipulations and false business statements. Maintaining an ethical position will avoid the breakdown of organizational progress and the opportunity to correct inappropriate accounting procedures. As the need for proper accounting increased, the demand for internal auditors took place. An internal auditor will review and assure the quality of cash disbursements, cash receipts, corporate governance, ethics, financial reporting controls, fixed assets, project management, sales, and stock controls within an organization (J.L. Vergaert). It is important for the auditors to abide by and ensure the company follows the accounting policies and standards via proper communication and suggestion for correction of any inadequate process found while performing their functions.
In addition t...
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