Internal Audit Procedure of Banks: An Experience at Howladar Yunus & Co. “Chartered Accountants”

Abstract

This internship report titled ‘Internal Audit Procedure of Banks: An Experience at Howladar Yunus & Co. “Chartered Accountants” is written based on 12 weeks I work as intern a part of internship program done in Howladar Yunus & Co. Chartered Accountants. This report is an integration of the knowledge of under-graduation program and full of experience about the practical workplace. The aim of this report is to show-case the procedures and processes that are followed by auditors during an audit and procedures of banking sector followed by Howladar Yunus & Co. Chartered Accountants, where the internship had taken place. The report has been segmented into five different chapters. In the chapter 1, it covers the purpose and the reasons for which the report has been prepared, objective of this report, significance of preparing the report, and limitation and difficulties that were faced when preparing this report. It also covers the types of information that has been used in order to complete the report. Chapter 2 covers a light overview and history of the firm and existing operation, mission, vision, and strength. Chapter 2 also discusses the services and the clients of the firm and the distribution of authority with in the firm. Chapter 3 focusses on theoretical overview on internal audit procedures based on some articles, journals and books. In chapter 4, it is the theoretical presentation and discussion of internal audit procedure, risk, internal control, and monitoring the internal audit on bank. In the finding and analysis part, it covers the audit practice and related work in a firm perspective. And also covers about how the firm is approached by a client or how the firm itself approaches a client. So far the steps of Audit Practice Manual (APM) that I have tried to accumulate and the work related activities on day to day process and also tried to disclose some issues that I was authorized to disclose only. Based on limitation and obstacles, I have suggested some recommendation to improve the audit process. And after that conclusion has been discussed.