Which of the following is true of internal auditing?
A)Only serves the audit committee of the board of directors
B)Primary nature of services include assurance and consulting
C)Is required to report activities and department findings to external stakeholders annually
D)Independence and objectivity are not relevant because they are employees of the company

Question

Quizplus · Accepted Answer

Internal auditing's primary nature of services include both assurance and consulting. Option A is incorrect because internal auditing serves the entire organization, not just the audit committee. Option C is incorrect because internal auditing reports to management, not to external stakeholders. Option D is incorrect because independence and objectivity are crucial factors for internal auditors to be effective in their work.

Which of the Following Is True of Internal Auditing