Hi, please see the attached paper. Have a look at it and in case of any edit, please let me know. Otherwise, it is my pleasure to have you as my buddy now and future. Until the next invite, Bye!
Running Head: SPORTS FINANCE
Question1: Compare and contrast the roles of an independent auditor and an internal
auditor. Describe two ways a sports organization can benefit from using an independent
auditor. Then, provide two specific examples of how the operational effectiveness of a
sports organization can improve with the use of internal audits. How can a sports
organization create a highly ethical culture?
Internal vs. External Auditors
Internal auditors operate from within an organization where the audit committee is the
recipient of their findings. They offer assistance in the designing of management policies and
ensure that all implemented policies that deal with risk management are operating effectively.
The work of this group of auditors is a continuous process. An external auditor also identified as
the independent auditor are independent of the firm they are auditing, and the shareholders are
the recipients of their findings. They provide experienced opinion on the actual position of a
firm's financial statement and conduct their duty on a test basis to monitor systems in place
Importance of External Aud...
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