While quantum physics can be tough to wrap your brain around, its potential applications are very exciting. Quantum physicsâthe laws that govern the behavior of smallest components of our universe, such as fundamental particles, atoms and moleculesâis admittedly a tough subject, a complicated path of intricate mathematics and scientific theory.
The role of internal audit is to provide independent assurance that an organisation's risk management, governance and internal control processes are operating effectively.
During a review, the auditor examines the financial statements but does not conduct an examination of the nonprofitâs internal controls (which is normally included in the scope of an independent audit). Instead the review provides a limited level of assurance that the financial statements are free of misrepresentations.