Internal Audit MCQs and Answers

[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 auditor is appointed by ____ MCQ

Internal auditor is appointed by ____ a) Management b) Shareholders c) Government d) Statutory body Answer: a) Internal auditors are appointed by the Management. They have to report directly to the board of directors or audit committee and should not be under the control of any person who is/has been in charge of financial management. …

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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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