Howladar & Yunus Co.: The Internal Audit Framework

Abstract

The objective of this study is to analyze the internal auditing practices and procedures of Howladar Yunus & Co. This report marks the conclusion of my internship experience. The study is structured into eight distinct chapters, and since I did not use quantitative data, a qualitative approach was adopted to explore their internal audit process. The report also details the types of data used, the sample size, and the methodology employed. Through this analysis, I identified both similarities and differences in their auditing practices, with the latter being influenced by local customs. Howladar Yunus & Co. is recognized as one of the leading firms in Bangladesh, known for maintaining high standards of professionalism in their internal auditing procedures. I had the opportunity to observe their collaboration with Consumer Testing Laboratories Ltd. While writing this report, which primarily focused on their internal audit process, I encountered both challenges and opportunities. The literature review includes an evaluation of various researchers who have conducted extensive studies on the subject, along with their analyses and findings. The results section of this report outlines the similarities and differences between the internal auditing methods of Emile Woolf and Howladar Yunus & Co. Additionally, I have provided several recommendations for enhancing their internal control activities to help streamline their audit processes.