Internal auditing is a company function that:
A) Audits the firm's financial statements and expresses an opinion on them
B) Provides independent appraisals of the company's financial statements, its internal control, and its operations
C) Prepares the firm's income tax returns
D) All of the above
E) None of the above

Question

Quizplus · Accepted Answer

Internal auditing is primarily focused on providing independent appraisals regarding the company's financial statements, its internal control systems, and its operations to add value and improve the organization's operations. It does not typically involve auditing financial statements to express an opinion (which is the role of external auditors) or preparing income tax returns.

Internal Auditing Is a Company Function That