Question

3) To assess methodologies and recommendations you will need to research audit reports and practices. Define the terms internal and external audits.

4) How would you identify corporate governance reporting trends?

Answer 1

3)Internal audit will mainly looks after the process followed for maintain records and the practices which they are following to accurately input all the risks and details. External audit will examine the final financial reported prepared and will give their opinion on it before getting it published to outside people of the organization internal auditors reports to the audit committee while external auditors report to the shareholder representatives on the board.

4) There are few organizations which publishes the trends in the corporate governance followed across the world and we can use them to identify the best practices and try to implement in our own organization