Economics · Auditing
Which of the following terms defines 'internal audit' with clarity?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Internal audit is an evaluation and analysis of the business operations conducted by external audit staff only.
- 2Internal audit is an evaluation and analysis of the financial statements only, conducted by an external agency.
- 3Internal audit is an evaluation and analysis of the financial statements only, conducted by the internal audit staff.
- 4Internal audit is an evaluation and analysis of the business operations conducted by the internal audit staff.✓
Correct answer
Internal audit is an evaluation and analysis of the business operations conducted by the internal audit staff.
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