[Solved] Internal audit is ____ MCQ

Internal audit is ____ a) An independent audit b) Objective assurance audit c) Consulting activity designed audit d) All of these Answer: d) Internal audit 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 …

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[Solved] Internal audit means ____ MCQ

Internal audit means ____ a) Audit undertaken to ascertain truth and fairness of state of affairs b) Audit undertaken internally to evaluate management functions c) Audit undertaken by employees of the organization to check financial irregularities d) Audit by independent auditor to improve internal affairs Answer: c) Internal audit means an audit undertaken by employees …

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[Solved] An internal audit department ____ MCQ

An internal audit department ____ a) is the independent department b) is the Non-independent department c) is the inter-dependent department d) None of these Answer: a) The internal Audit Department is the independent department of the company that aims to improve the company’s operations. The internal audit department examines and evaluates the adequacy, effectiveness, and …

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[Solved] Internal audit is done ____ MCQ

Internal audit is done ____ a) Before the external audit b) After the external audit c) Parallel to external audit d) Vertical to external audit Answer: c) Internal audit is done parallel to external audit. Internal auditors have complete freedom to check whether the company’s financial statements are presented in a fair and correct manner. …

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