The internal auditing department provides information about control and quality of performance to:
A)a level in the entity sufficient to ensure acceptance of all recommendations.
B)management and the board.
C)any member of the entity upon request.
D)outside agencies for regulatory and financial compliance.

Question

Quizplus · Accepted Answer

Internal auditing department is responsible for monitoring and evaluating the adequacy and effectiveness of the internal control system in an organization. The primary function of the internal auditing department is to provide information to management and the board about the control and quality of performance. It is essential to provide this information to management and the board as they are responsible for making decisions that impact the organization. While internal audit reports may be available to any member of the entity upon request, the primary recipients of the information are management and the board. Internal audit reports are typically not shared with outside agencies unless required by law or regulations. Therefore, the best choice is B.

The Internal Auditing Department Provides Information About Control and Quality