The statement that best describes internal auditing is:
A) an activity located within an entity, primarily to detect fraud.
B) an independent and objective assurance activity within an entity.
C) an accounting function located within an entity.
D) an activity to reduce risk.

Question

Quizplus · Accepted Answer

Internal auditing is defined as an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

The Statement That Best Describes Internal Auditing Is