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Meaning of Investigation, Auditing and Secretarial Practice Video Lecture | Auditing and Secretarial Practice - B Com
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FAQs on Meaning of Investigation, Auditing and Secretarial Practice Video Lecture - Auditing and Secretarial Practice - B Com
| 1. What is the importance of investigation in business? |  |
Ans. Investigation plays a crucial role in business as it helps identify any fraudulent activities, misconduct, or irregularities within the organization. It ensures compliance with legal and regulatory requirements, helps in uncovering financial frauds, and provides valuable insights for decision-making and risk management.
| 2. What is the difference between internal and external auditing? | |
Ans. Internal auditing refers to the examination of an organization's internal controls, processes, and systems by its own employees or an independent internal audit team. On the other hand, external auditing involves the examination of financial records, statements, and systems by an independent certified public accountant (CPA) or an external audit firm.
| 3. How does secretarial practice contribute to corporate governance? | |
Ans. Secretarial practice plays a vital role in ensuring effective corporate governance. It involves managing corporate compliance, maintaining records, preparing and filing legal documents, and facilitating communication between the company, its shareholders, and regulatory authorities. By following best corporate governance practices, secretarial practice helps establish transparency, accountability, and ethical conduct within an organization.
| 4. What are the key responsibilities of a company secretary? | |
Ans. A company secretary is responsible for various crucial tasks, including maintaining statutory registers and records, organizing board meetings and general meetings, ensuring compliance with legal and regulatory requirements, preparing and filing necessary documents with government authorities, advising the board on corporate governance matters, and facilitating effective communication between the company and its stakeholders.
| 5. How can companies benefit from implementing best practices in investigation, auditing, and secretarial practice? | |
Ans. Implementing best practices in investigation, auditing, and secretarial practice can bring several benefits to companies. It helps in detecting and preventing financial frauds, mitigating risks, ensuring compliance with laws and regulations, improving corporate governance, enhancing transparency and accountability, gaining stakeholders' trust, and ultimately contributing to the overall success and sustainability of the business.
Text Transcript from Video
What does investigation mean?
investigation. Noun
1. The act of investigating; the process of inquiring into or following up; research; study; inquiry, especially patient or thorough inquiry or examination; as, the investigations of the philosopher and the mathematician; the investigations of the judge, the moralist.
investigation. Noun
1. The act of investigating; the process of inquiring into or following up; research; study; inquiry, especially patient or thorough inquiry or examination; as, the investigations of the philosopher and the mathematician; the investigations of the judge, the moralist.
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Nov 22, 2024 Last updated |
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