When a firm uses internal auditors, it is adhering to which of the following internal control elements?
A) risk assessment
B) monitoring
C) proofs and security measures
D) information and communication

Question

Quizplus · Accepted Answer

Internal auditors are part of the monitoring component of internal control, which involves reviewing and assessing the effectiveness of the other internal control elements. They are responsible for reviewing financial information, evaluating the internal control systems, and identifying areas where improvements can be made. Therefore, the use of internal auditors helps a firm to adhere to the monitoring element of internal control.

When a Firm Uses Internal Auditors, It Is Adhering to Which