The scope of internal auditing within an organization is broad and may involve topics such as an organization's governance, risk management and management controls over: efficiency/effectiveness of operations (including safeguarding of assets), the reliability of financial and management reporting, and compliance with laws and regulations. Scope of internal audit program must cover the Following:
- Audit of operation processes to determine conformity of both product / services and their processes to customer and applicable regulatory requirements.
- Audit of the QMS to determine conformity to the ISO 9001 standard.
- Audit of the QMS to determine conformity to organizational requirements.
- Audit of QMS processes and their interaction to determine if the QMS has been effectively implemented and maintained.
Scope of Internal Audit includes following areas they are as:
- Review of Order and Risk Management system.
- Verification and review of Constituent Registration Documents.
- Verification of systems for Margins collection from clients.
- Verification/Review of Procedures and systems pertaining to dispatch of contract notes/Margin Statement/Statement of accounts.
- Verification of systems and procedures in place for receipt/payments of funds/securities from/to clients.
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