Auditing Exercise

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You are auditing ABC Inc. quality management system. You start with the Internal Audit process. You ask to see their internal audit procedure. The auditee provides you the procedure.

Find the non-conformances in this procedure, and generate a non-conformance report to include a statement of the nonconformance, the clause which is violated and the requirement. Refer to your copy of the standard for the requirements.

Internal Auditing Procedure

1. We develop an annual schedule of audits based on status and importance.

2. Each of our auditors are trained and given a particular audit to work.

3. Auditors are selected to be impartial and objective.

4. Any one of our auditors can audit the internal audit function

5. We generate reports but don’t retain them. Once they are discussed with the affected departments they are discarded.

6. When a non-conformance is identified we document it in a Nonconformance Report and submit it to the affected department for correction.

NCR 1:

Statement of the Non-conformance ______________________________________

____________________________________________________________________

ISO 9001:2015 Clause _________________________________________________

Statement of the Requirement ___________________________________________

_____________________________________________________________________

NCR 2:

Statement of the Non-conformance ______________________________________

____________________________________________________________________

ISO 9001:2015 Clause _________________________________________________

Statement of the Requirement ___________________________________________

_____________________________________________________________________

2- ABC Inc. also has an ISO 14001 environmental management system in place. You ask to see their most recent management review. As you review it you don’t see their environmental objectives, nor are the results of audits addressed.

You decide to generate nonconformance reports. Please include a description of the nonconformance, the clause/sub-clause letter which is not being met and the requirement from the standard.

NCR 1:

Statement of the Non-conformance ______________________________________

____________________________________________________________________

ISO 14001:2015 Clause _________________________________________________

Statement of the Requirement ___________________________________________

_____________________________________________________________________

NCR 2:

Statement of the Non-conformance ______________________________________

____________________________________________________________________

ISO 14001:2015 Clause _________________________________________________

Statement of the Requirement __________

 

 

Sample Solution

Banking companies in India are one the most favourable investment decisions by shareholders. The Fundamental analysis studies the various parameter influencing the risk and return of stocks. The profitability and growth of stocks can be determined by using Fundamental analysis, which in turn helps the shareholders to make a informed and profitable decision making. This research analyses the profitability position of selected private sector banking companies in India using independent financial parameters. The analyses of profitability position leads to ascertain the best investment decision among the selected private sector banks. The study requires secondary data and the requisite data has been collected from official journals and websites. ANOVA test has been used for hypothesis testing. HDFC bank, ICICI bank, AXIS bank, Yes Bank and Kotak Mahindra bank was selected for the analysis. Return on Equity (ROE), Net Profit Margin (NPM), Return on Assets (ROA), Price to Earnings ratio (P/E), Debt to Equity ratio (D/E), Net Non – Performing Assets (NPA), Earnings per Share (EPS) and Dividend per Share (DPS) were the variables considered for this study. The investors have to analyse these variable to determine the profitability position of the banks.
Key Words: Profitability, Indian Banking sector, ROE, NPM, ROA, P/E, D/E, NPA,DPS, EPS.

INTRODUCTION:

The Banking industry in India plays an important role in the financial system as it provides financial assistance to industrial sector, agricultural sector and household sector. The banking industry contributes to the economical growth of the country as they are the major credit creators of the nation. During the recent time, the banking industry has seen significant development and large investments. The Reserve of India (RBI) is the central bank of India, it regulates, controls and monitors other banks in India. Banks are classified into commercia

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