Internal audit practices and process development of Manufacturing Company: Evidence from URMI Group

Abstract

This report titled “Internal audit practices and process development of Manufacturing Company: Evidence from URMI Group” demonstrate an internal audit experience in a manufacturing company named URMI Group and establishes their internal process on behalf of ACNABIN Chartered Accountants. The second part of the report focuses on the company where I performed. For a period of 12 weeks, URMI Group served as my client. I tried to include the Audit Practice Manual (APM) stages in this section and talked about a few things I was only allowed to reveal. This section also includes the lessons I discovered and the obligations I had to meet throughout the audit. Moreover, the process development and ERP system are described thoroughly. Lastly, the project part which describes the benefits of internal audit and how it helps a manufacturing company to grow more effectively and efficiently. Moreover, it portrays how an internal audit can prepare a better work process framework for the company and reduces accounting record errors.