[Solved] Internal Auditor is appointed by ____ (MCQ)

Internal Auditor is appointed by

A. Management

B. Shareholders

C. Government

D. Statutory body

Answer: Management

The internal auditor is appointed by management. However, his role is to ensure that the company’s functions are being carried out in a proper manner and its assets are also safe. He has to make sure that the risks are being minimized and the frauds are being detected on time.

The internal auditor has to work in accordance with the established policies and procedures of the organization. He should not be involved in any other work of the organization except the auditing function.

He should report to his immediate superior but he will be directly responsible towards the Board of Directors or Executive Committee of the company.

Internal Auditor should be an independent person and should not be involved in any activity which conflicts with his independence. He should have access to all those documents which are necessary for carrying out his job.

The internal auditor has to prepare reports on the results of their audit and submit them to management for further action.

Comments