The role of audit in detecting and addressing discrepancies and compliance issues of clients and improving financial transparency and accountability

Abstract

This report, which consists of three parts, focuses on an overview of my internship experience at the organization, details about the organization, and finally the topic that I chose for this report, which is "The role of audit in detecting and addressing discrepancies and compliance issues of clients and improving financial transparency and accountability". The first chapter foucused on mostly internship's outcome. What I acquired from the internship and what the firm benefited from having me as an intern are emphasized here. Also, I explained my job description such as I did a quarterly audit of a client. Moreover, I described the problems and difficulties I faced while doing my intership. Lastly I gave some recommendations. In second chapter, I covered details of the organization and some of the organizational methods. Also, I described the significance of this study and limitations of this study. Moreover, I elaborated on their management practices, marketing practices and operations management, and information system practices. Since their financial and accounting information was not publicly available, I showed the overall financial institutional performance of Bangladesh. An lastly, I showed industry and competitive analysis and I gave some recommendations that they should adopt for their future betterment. In the last chapter, I discussed the process of internal and external audits, the detection of discrepancies and compliance issues of clients with real-life examples, the improvement of financial transparency and accountability, the assessment of the impact of cyber security threats on the audit process in ACNABIN. And I gave some recommendations to solve these problems.