Internal audit is also known as ____
a) corporate audit
b) business audit
c) social audit
d) None of these
Answer: a) An internal audit is also known as a corporate audit. It is 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 evaluating and improving the effectiveness of risk management, control, and governance processes.